In India, satisfactory demand for welded pipes from domestic consumers has allowed local producers to keep prices in the national currency unchanged at previous levels. However, due to the weakening of the rupee against the dollar, domestic quotations in dollar terms have decreased by $15-20/mt over the past two weeks. Export offers for Indian ERW pipes have declined by $40-50/mt over the period in question on the back of currency fluctuations and very low demand abroad. Market players think that India's welded pipe prices will keep sliding down in the coming period amid the global economic slowdown and the seasonal downturn in demand.
Indian domestic quotations of ½"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) are at levels of INR 41,000-42,000/mt ($730-750/mt) ex-works. Prices are given excluding tax and on actual weight basis. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 (light series) or IS 1239 are in the range of INR 47,000-48,000/mt ($840-860/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $750-780/mt FOB on theoretical weight basis. At the same time, export quotations of 1"-4" black ERW pipes as per BS 1387 or IS 1239 from top Indian producers such as Jindal Pipes are at the level of $810-820/mt FOB, while prices of 1/2"-3/4" pipes are at around $825-830/mt FOB. Offers of 4"-6" black ERW pipes of grade B made to API 5L are being given to the external market at around $860/mt FOB.
Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $850-880/mt FOB.