The Indian welded pipe market has moved on a weak trend in the past two weeks amid stagnant sales and downward global trends. Over the past two weeks, local Indian welded pipe prices have declined by a maximum of INR 1,000/mt ($23-24/mt), while export offers for Indian ERW pipes have gone down by $5-10/mt. Meanwhile, demand from both local and foreign buyers has failed to show any sign of improvement, and transactions remain scarce owing to the pessimistic attitudes of market participants. Market players believe the Indian welded pipe market will remain depressed in the coming period and that prices may continue to weaken in line with the softening of flat steel offers and the stagnancy on the demand side.
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 38,000-40,000/mt ($605-637/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 44,000-45,000/mt ($701-717/mt) ex-works.
Traders in India are offering 2"-6" black ERW pipes of grade B as per ASTM A53 at around INR 40,000-42,000/mt ($637-669/mt) ex-warehouse, including excise duty and VAT.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $615-640/mt FOB on actual weight basis. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $720-740/mt FOB.
$1 = INR 62.8