Activity in the welded pipe market in India has continued at a slow pace as demand from downstream industries such as the automotive sector remains weak. Market sources report low transaction volumes as traders are reluctant to build up inventories. However, domestic quotations of Indian welded pipes have moved up by around INR 500-1,000/mt ($8-16/mt) over the past two weeks on the back of higher raw material prices. Meanwhile, Indian pipe makers are still unsure whether current market conditions will absorb higher welded pipe prices. Export offers of Indian welded pipes have mostly remained unchanged over the past two weeks, though a maximum $10/mt increase has been seen. Demand is unlikely to improve in the near future. Most market players prefer to stand back and watch market conditions more carefully. It is thought that welded pipe consumption in India will pick up after the new government's infrastructure spending policies are put in place.
Domestic quotations of 1"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) from Indian producers are at levels of INR 40,000-41,500/mt ($659-684/mt) ex-works, excluding tax, on actual weight basis. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 (light series) are in the range of INR 46,000-48,000/mt ($758-791/mt) ex-works. Traders in India are offering 2"-6" black ERW pipes at around INR 47,000-48,000/mt ($774-791/mt) ex-warehouse.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $690-710/mt FOB on actual weight basis. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $780-820/mt FOB.
$1 = INR 60.69