Despite the pessimistic mood in the global steel market, Indian seamless pipe manufacturers have not ruled out the possibility of a price increase in the third quarter. Local producers have raised their quotations for the domestic market by INR 4,000-7,000/mt ($90-150/mt, currency fluctuations taken into account) in the past month, while export prices have increased by $60-110/mt during the same period. In India, demand has experienced a boom mainly due to local investment projects. Seamless pipe manufacturers are concerned about possible increases in round billet quotations as iron ore prices may rise by 30 percent from the third quarter of this year. In this context, Indian producers are unlikely to decrease their seamless pipe offers in the coming period.
Domestic quotations of locally produced seamless pipes 2"-4" grade B made to ASTM A106 are at around INR 62,000-67,000/mt ($1,335-1,440/mt) ex-works on theoretical weight basis, excluding tax.
Prices for Chinese seamless pipes 2"-6" grade B as per ASTM A106/API 5L given to India are at $820-870/mt C&F actual weight.
Export offers of seamless pipes 2"-4" grade B as per ASTM A106 from top Indian manufacturers are being given at around $1,410-1,510/mt FOB on theoretical weight basis.