The domestic seamless pipe market in India continues to strengthen. Over the past month local producers have raised their quotations for the domestic market by INR 5,000-8,000/mt ($130-200/mt, currency fluctuations taken into account), while export prices have increased by $200-310/mt during the same period. Prices of Chinese pipes for the Indian market have risen by $70-110/mt over the period under review. India's steel consumption has been boosted by demand from builders of power supply projects, airports, cars and appliances. Thanks to the fast-growing automotive sector in India, domestic seamless pipe demand is expected to grow. Consumer financing will increase as people may borrow more to buy homes and cars in line with their rising incomes.
Domestic quotations of locally produced seamless pipes 2"-4" grade B made to ASTM A106 are at around INR 55,000-60,000/mt ($1,230-1,345/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 $1,300-1,350/mt FOB on theoretical weight basis.
Prices for Chinese seamless pipes 2"-6" grade B as per ASTM A106/API 5L are at $880-950/mt C&F actual weight.