The general situation in the Indian market for welded pipes remains bleak with the shrinking of downstream demand across all regions of the country due to the sluggishness of the economy. Foreign buyers have also become cautious as regards concluding big purchases, unwilling to risk building up their inventories before the end of the year. Domestic welded pipe prices in India have remained unchanged over the past two weeks despite poor transaction volumes and falling demand, while export offers have decreased by $10-20/mt over the same period. With both domestic and overseas demand on a downward curve, market players have no confidence in the coming market.
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 40,000-41,000/mt ($647-663/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 46,000-47,000/mt ($744-760/mt) ex-works.
Traders in India are offering 2"-6" black ERW pipes of grade B as per ASTM A53 at around INR 46,000-47,000/mt ($744-760/mt) ex-warehouse.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $650-680/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 $750-780/mt FOB.
$1 = INR 61.83