The Indian welded pipe market has continued to experience a downward trend because of its poor sales performance, both domestic and foreign. Domestic quotations of Indian welded pipes have declined by INR 500-2,000/mt over the past two weeks. Over the same period, Indian welded pipe exporters have cut their export offers of black ERW pipes by $50-60/mt in order to stimulate buying activity by foreign customers. Most players hold a negative view of the prospects for the market in the coming period as a seasonal slump in demand from consuming sectors is depressing the 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 33,500-35,000/mt ($528-551/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 39,000-41,000/mt ($614-646/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $520-550/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 $590-620/mt FOB.
$1 = INR 63.5