Seamless pipe prices continue to rise in India

Friday, 28 May 2010 10:16:51 (GMT+3)   |  
       

The seamless pipe market in India continues to follow an upward trend, though a slowdown has been observed in price growth over the past month. Local producers have raised their quotations for the domestic market by a maximum of INR 3,000/mt ($15/mt, currency fluctuations taken into account) in the past month, while export prices have increased by $50/mt during the same period. Market insiders report that the domestic market in India is sufficiently strong. Domestic seamless pipe makers have fully booked production for the coming three to four months and are not going to decrease their quotations. Market players believe that seamless pipe consumption in India will continue to grow, fully supported by the various fiscal, monetary and administrative measures taken by the Indian government.

Domestic quotations of locally produced seamless pipes 2"-4" grade B made to ASTM A106 are at around INR 58,000-60,000/mt ($1,245-1,290/mt) ex-works on theoretical weight basis, excluding tax.

Export offers of seamless pipes 2"-4" grade B as per ASTM A106 from top Indian manufacturers are being given at around $1,350-1,400/mt FOB on theoretical weight basis.

Prices for Chinese seamless pipes 2"-6" grade B as per ASTM A106/API 5L are at $870-950/mt C&F actual weight.


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