Buying activity in the Indian welded pipe market remains slow in view of the spate of holidays ahead in the country. Demand from end-users has not shown any improvement over the past two weeks since there are not many construction projects in India, while sentiments regarding exports are nervous in line with the softening global trend. Domestic and export offers of welded pipes from Indian producers have remained almost unchanged over the past two weeks. Market players believe that welded pipe prices in India are unlikely to rise in the short term considering the festive season and the downward trend in the flat steel market.
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 40,000-42,000/mt ($649-681/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 46,000-48,000/mt ($746-779/mt) ex-works.
Traders in India are offering 2"-6" black ERW pipes at around INR 46,000-48,000/mt ($746-779/mt) ex-warehouse.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $690-710/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 $780-800/mt FOB.
$1 = INR 61.5