Indian welded
pipe producers report that their sales remain stagnant due to sluggish domestic demand, against a backdrop of lower local flat steel quotations. Domestic quotations of Indian ERW pipes have decreased by INR 500-1,000/mt ($8-16/mt) over the past two weeks, while export prices have declined by $10-20/mt during the same period. Negative expectations prevail in the Indian welded
pipe market amid the stagnancy on the demand side.
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 42,000-44,500/mt ($697-739/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 47,000-49,000/mt ($780-813/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $700-730/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 $790-830/mt FOB.
$1 = INR 60.25