Buying activity in the Indian seamless pipe market has remained sluggish owing to low requirement from end-users and given year-end considerations. Meanwhile, most domestic and export prices for Indian seamless pipes have stayed unchanged over the past month, while top Indian producers have cut their domestic offers by a maximum of INR 500/mt ($29/mt) amid a further drop in actual demand. Export offers of seamless pipes from top Indian pipe producers have declined by $30/mt over the past month. Market players believe the price trend will likely move sideways for the rest of the year and no strong demand is expected for the time being.
Most offers of Indian seamless pipes of 2"-10" grade B made to ASTM A106 are being given to the local market at around INR 53,000-55,000/mt ($840-872/mt) ex-works on theoretical weight basis, excluding tax.
The majority of export offers of Indian seamless pipes of 2"-6" Sch 40 grade B as per ASTM A106 are standing at around $900-940/mt FOB on theoretical weight basis.
Domestic quotations of 2"-4" seamless pipes of grade B made to ASTM A106 from top Indian pipe producers may reach INR 64,000-65,500/mt ($1,015-1,039/mt) ex-works, excluding tax. Export offers of seamless pipes from top Indian pipe producers have declined to the levels of $1,070-1,100/mt FOB.
$1 = INR 62.96