Over the past month Indian welded pipe producers have maintained their domestic and export quotations at stable levels. While demand for Indian welded pipes in the domestic market is steady, a small decrease has been observed in overseas buyer activity, especially from European countries, where prices of locally produced welded pipes are more attractive.
Due to the surge in flat product prices in India this week, welded pipe producers will likely lift their prices in the coming weeks. As per market sources, the surge in prices is driven by the sentiment that Indian steelmakers are likely to resort to price hikes in the context of global price increases. The flat product market in India was in a state of frenzy on March 8, as traders started holding on to their stocks in anticipation of higher returns in the coming days.
Domestic quotations of 1"-6" black ERW pipes made to BS 1387 (light series) are at levels of INR 36,000-38,000/mt ($780-820/mt) ex-works, while 7"-14" black ERW pipes are at about INR 36,500-36,600/mt ($790/mt) ex-works, excluding tax.
Export quotations of 1"-6" black ERW pipes made to BS 1387 (light series) from most Indian producers are at $750-800/mt FOB. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $850-900/mt FOB.