Off-season continues in Indian welded pipe market

Friday, 08 August 2014 12:29:30 (GMT+3)   |  
       

The Indian market for welded pipes has continued to be characterized by weak demand in the current off-season. Domestic quotations of Indian welded pipes are in general at the levels of two weeks ago, though in some cases decreases of a maximum of INR 500/mt (8/mt) may be seen due to the decline in HRC prices in some regions. Yet, prices in US dollar terms have dropped by $14-21/mt over the past two weeks due to the weaker rupee. Export offers of Indian welded pipes have declined by a maximum of $10/mt over the same period as foreign buyers keep their purchases at low levels. Although the new Indian government has announced its policy to stimulate the economy, market players do not believe the welded pipe sector will benefit much from it in the short run.

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 39,000-41,000/mt ($635-667/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 ($732-765/mt) ex-works. Traders in India are offering 2"-6" black ERW pipes at around INR 47,000-48,000/mt ($765-781/mt) ex-warehouse.

Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $680-710/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 $780-820/mt FOB.

$1 = INR 61.46


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