Demand in the Indian seamless pipe market is improving slowly, especially from local customers. Indian seamless pipe producers have raised their domestic offers by around INR 500-1,000/mt ($9-18/mt) over the past month on the back of costlier feedstock and expected stronger demand from local buyers at the end of the fiscal year. At the same time, export prices for seamless pipes from Indian producers have remained unchanged amid the lack of demand. However, export offers may start to move up in the coming period following the increase in domestic prices. Indian seamless pipe producers see a favorable demand outlook for their products from the power, infrastructure and oil & gas sectors. In this context, it is expected that seamless pipe quotations in India will continue to rise gradually.
Most offers of Indian seamless pipes of 2"-10" grade B made to ASTM A106 are being given to the local market at around INR 59,000-62,500/mt ($955-1,011/mt) ex-works on theoretical weight basis, excluding tax. The majority of export offers of Indian seamless pipes of 2"-6" Sch 40 grade B as per ASTM A106 are standing at around $1,000-1,060/mt FOB on theoretical weight basis.
Domestic quotations of 2"-4" seamless pipes of grade B made to ASTM A106 from top Indian pipe producers are at levels of INR 65,000-68,000/mt ($1,052-1,100/mt) ex-works, excluding tax.
$1 = INR 61.66