Indian welded pipe producers have lowered their domestic and export prices under pressure from sluggish buying activity in the overall steel market and in line with the continuous decline in flat steel prices. Over the past two weeks, domestic Indian welded pipe prices have declined by a maximum of INR 300/mt ($5/mt), while export offers for Indian ERW pipes have gone down by $10-20/mt. Uncertainties surrounding the pricing of local HRC and import tariffs have impacted the confidence levels of welded pipe customers in India and abroad. Market insiders are not confident on the prospects for a market recovery before March.
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 39,000-40,700/mt ($630-658/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 45,000-47,000/mt ($728-760/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $640-650/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 $740-760/mt FOB.
$1 = INR 61.88