Indian producers of flat products have been forced by Chinese suppliers to decrease domestic prices for HRC by INR 500/mt over the past month, to INR 28,500-29,500/mt ($585-605/mt) ex-works. However, the local India welded pipe market has been experiencing favorable conditions and Indian pipe manufacturers have managed to raise their prices. Over the past three weeks domestic quotations of Indian galvanized welded pipes have increased by INR 2,000/mt ($30/mt currency fluctuations taken into account) and export offers have risen by $50/mt. During the past month Indian black ERW pipes have become more expensive for the domestic market by INR 1,000/mt ($5-10/mt) while prices have increased by $20/mt for foreign customers. It seems that due to stable demand in the domestic market Indian pipe producers will continue to test the market for improvements and will increase quotations.
Current domestic prices of Indian 1"-6" black ERW pipes made to BS 1387 are at the level INR 34,000-35,000/mt ex-works ($695-715/mt) on theoretical weight basis, excluding tax. Current domestic offers of electric-welded galvanized pipes are in the range of INR 40,000-42,000/mt ex-works ($820-860/mt), depending on producers.
Export quotations of Indian 1"-6" black ERW pipes as per BS 1387 (light series) are at the level of $720-740/mt FOB, with export offers of 1"-6" galvanized ERW pipes at $800-850/mt FOB.