The Indian welded
pipe market has not witnessed any improvement over the past two weeks as low demand from the construction sector and tighter credit have negatively impacted the market. Welded
pipe demand has softened in
India even more in the run up to the Diwali holiday in the country. Foreign demand is still lackluster amid global economic uncertainty. The price range for locally produced welded pipes has remained unchanged over the past two weeks. However, the current market situation may improve after the Diwali festival is over from the second half of November, and with the monsoon season drawing to an end.
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 40,000-42,000/mt ($651-684/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 46,000-48,000/mt ($749-782/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $675-700/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 $780-800/mt FOB.
$1 = INR 61.40