Activity in the Indian welded pipe market has remained sluggish over the past three weeks, with buyers preferring to wait for clearer indications. During the past three weeks, domestic Indian welded pipe prices have declined by a maximum of INR 500/mt (up $6/mt), while export offers for Indian ERW pipes have gone down by a maximum of $10/mt amid slack buying activity. Market participants expect domestic and export demand will remain low in the coming period given the negative sentiments of buyers amid instability in the international market. India's welded pipe market is expected to trend sideways in the coming period.
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 39,000-41,000/mt ($630-663/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 45,000-47,000/mt ($727-760/mt) ex-works.
Traders in India are offering 2"-6" black ERW pipes of grade B as per ASTM A53 at around INR 45,000-46,000/mt ($727-744/mt) ex-warehouse.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $650-670/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 $750-770/mt FOB.
$1 = INR 61.86