Indian domestic prices for welded pipes have remained unchanged over the past two weeks amid stable quotations of flat steel material. Following the price rise announced earlier this month, due to moderate domestic demand Indian welded pipe producers have refrained from raising their local prices further. Meanwhile, export offers have moved up by $10-20/mt over the same period amid the depreciation of the Indian rupee against the US dollar, though the purchasing activity of foreign buyers remains rather slack. The short-term prospects for welded pipe demand in India are gloomy and no positive changes are likely to happen in the coming period. However, market players believe that the market sentiment will improve gradually later in the year driven by planned investments in infrastructure, while the outlook for exports remains uncertain.
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 ($790-825/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) are in the range of INR 45,000-47,000/mt ($885-925/mt) ex-works.
Export quotations of 1"-6" black ERW pipes as per BS 1387 or IS 1239 are at the level of $820-850/mt FOB. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $910-950/mt FOB.