Buyers in the domestic and external markets still show low demand for Indian seamless pipes. Poor infrastructure and the high cost of credit have continued to affect business activity in the domestic market. Indian seamless pipe producers have cut their domestic offers by around INR 900-2,000/mt over the past month, while export quotations of Indian seamless pipes have almost remained unchanged over the period under review.
Market players think that Indian seamless pipe producers may hike their domestic and export prices in the coming period on the back of higher raw material and feedstock quotations.
Most offers of Indian seamless pipes of 1"-10" grade B made to ASTM A106 are being given to the local market at around INR 62,100-63,500/mt ($1,157-1,183/mt) ex-works on theoretical weight basis, excluding tax.
Domestic quotations of 2"-4" seamless pipes of grade B made to ASTM A106 from top Indian pipe producers are at the level of INR 66,000-72,000/mt ($1,230-1,341/mt) ex-works, excluding tax.
The majority of export offers of Indian seamless pipes of 1"-6" Sch 40 grade B as per ASTM A106 are standing at around $1,220-1,240/mt FOB, while quotations of 3/4" Sch 40 seamless pipes are at about $1,320-1,330/mt FOB. Meanwhile, export quotations of the same pipes, 2"-4", from top Indian pipe producers are at the level of $1,290-1,400/mt FOB.