Domestic demand for welded pipes in India has declined due to the rainy season. Meanwhile, domestic prices for Indian welded pipes in rupee terms have not changed, but taking into account currency fluctuations Indian welded pipe prices have increased by $15-20/mt on dollar basis over the past three weeks. In addition, Indian welded pipe producers have kept their export prices stable despite weak demand from foreign buyers. Market players believe export prices for Indian welded pipes may soften in the coming short-term period amid the downward trend in the global market and due to the holiday season in Europe and Ramadan (starts on July 20) in the Middle East. Domestic prices of locally produced welded pipes may also decline amid an anticipated slowdown in domestic demand owing to the monsoon season.
Indian domestic quotations of ½"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) are at levels of INR 40,000-42,000/mt ($735-770/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 46,000-48,000/mt ($845-880/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $730-760/mt FOB on theoretical weight basis. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $830-860/mt FOB.