Business activity has been weak in the Indian market for welded pipes over the past two weeks. Meanwhile, Indian pipe makers have put offers up on higher production costs. Higher prices for Chinese material have also supported Indian suppliers in upward revisions of their prices. Over the past two weeks, domestic prices of Indian welded pipes have increased by around INR 4,000/mt ($59-62/mt), while export offers for Indian ERW pipes have gone up by $40-60/mt over the period in question. However, there is a lot of uncertainty over the further upward trend as demand from both local and foreign buyers is still very weak.
Domestic quotations of 1/2"-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 ($724-761/mt) ex-works, excluding tax. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 (light series) are in the range of INR 44,000-46,000/mt ($817-854/mt) ex-works.
Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $740-760/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 $840-860/mt FOB on actual weight basis.