The seamless
pipe industry in
India continues to suffer from weak demand amid political uncertainty, stricter bank policies on loans and cheaper imports, while export demand remains precarious. Indian domestic seamless
pipe prices have fallen by around INR 1,500/mt ($25/mt) over the past month, while export offers of Indian pipes have declined by a maximum of $20/mt over the same period. Market players believe Indian seamless
pipe producers may be forced to lower their offer prices in the coming period in view of the volumes of imported material. The imminent monsoon season, which will start in June, will also have a negative impact on the domestic seamless
pipe market, while the buying activity of foreign customers will likely remain slack.
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 55,500-57,000/mt ($945-971/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 $950-980/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 63,000-64,000/mt ($1,073-1,090/mt) ex-works, excluding tax.
$1 = INR 58.71