The Indian domestic welded pipe market continues to suffer from poor demand among end-users. Meanwhile, domestic and export prices of Indian welded pipes have remained largely stable over the past two weeks despite weak sentiment given stable domestic feedstock quotations. Market players report very little buying from overseas markets, while the domestic market also remains quiet. Prices for Indian welded pipes are not expected to increase in the short term in view of the uncertainty in the domestic market and the decreasing price trend in the global market.
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 39,000-41,000/mt ($720-757/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 44,000-46,000/mt ($812-849/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $760-800/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 $860-900/mt FOB.