Indian welded pipe market maintains rising movement

Wednesday, 30 December 2009 12:12:17 (GMT+3)   |  
       

Indian domestic and export welded pipe prices have continued to exhibit strong upward movement in the last two weeks due to the higher cost of flat products and better demand in the domestic market. During the period in question, domestic quotations have increased by INR 1,000/mt ($20-25/mt), while export offers have risen by $20-30/mt.

Domestic quotations of 1"-6" black ERW pipes made to BS 1387 are at levels of INR 33,000-35,000/mt ($710-750/mt) ex-works on theoretical weight basis, excluding tax. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 or IS 1239 are in the range of INR 39,000-40,000/mt ($835-860/mt) ex-works.

Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $700-720/mt FOB. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $800-830/mt FOB.

The flat product market in India is likely to improve further as the main Indian steelmakers move to hike their prices. The infrastructure sector in India promises to develop rapidly in 2010, which means that domestic steel pipe consumption will continue to grow. The Indian government plans huge investments in the country's power sector in 2010, including funds for increasing power generation capacity, for repair and maintenance of existing power plants, and for the expansion and upgrading of transmission and distribution infrastructure. Market players report that the export market is indicating a slight improvement.


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