Demand is still slow from buyers in the domestic and export markets for Indian welded pipes. Over the past two weeks, domestic quotations of Indian welded pipes have remained stable in Indian currency, though due to currency fluctuations the prices in US dollar terms have increased by $18-22/mt. Meanwhile, export offers of Indian pipes have remained unchanged over the same period. Due to the uncertain situation in the raw materials segment and moderate demand from consuming industries, there is a lack of clarity as regards likely future developments in the Indian welded pipe market.
Domestic quotations of 1/2"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) from Indian producers are at levels of INR 39,000-41,000/mt ($730-767/mt) ex-works, excluding tax. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 (light series) are in the range of INR 45,000-47,000/mt ($842-880/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $710-730/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 $800-830/mt FOB.