Over the past month the Indian seamless pipe market has weakened because of the seasonal lull in activity. Domestic quotations of locally produced seamless pipes have fallen by INR 9,000-12,000/mt ($180-250/mt) over the period under review, while export offers of Indian seamless pipes have declined by $150-300/mt. Chinese suppliers have raised their seamless pipe offers for Indian customers by $90-110/mt, but still remain competitive in the market. It seems that Indian seamless pipe producers may raise prices in the coming month as construction restarts at the end of the monsoons and as the onset of the festival season spurs home and car purchases. The festivals mark the peak season for steel consumption in India and, with global demand also recovering, the prospects for prices appear encouraging.
Domestic quotations of locally produced seamless pipes 2"-4" grade B made to ASTM A106 are at around INR 50,000-58,000/mt ($1,070-1,240/mt) ex-works on theoretical weight basis, excluding tax.
Export offers of seamless pipes 2"-4" grade B as per ASTM A106 from top Indian manufacturers are being given at around $1,100-1,300/mt FOB on theoretical weight basis.
Prices for Chinese seamless pipes 2"-6" grade B as per ASTM A106/API 5L given to India are at $890-960/mt C&F actual weight.