Activity in the Indian welded pipe market remains slow amid slack end-user demand in the rainy season, while prices have indicated a slight downtrend over the past three weeks. Domestic prices of welded pipes have declined by around INR 500-1,000/mt ($8-17/mt) over the period under review, while export offers of welded pipes from Indian producers have decreased by $10-20/mt amid the unsatisfactory market performance. It is hard for the Indian welded pipe market to make progress in the short term, taking into consideration the traditional off-season in the two months ahead. Under such conditions, market participants do not think Indian welded pipe prices will move up in the short term.
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 39,500-41,000/mt ($657-682/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 ($749-782/mt) ex-works. Traders in India are offering 2"-6" black ERW pipes at around INR 47,000-48,000/mt ($782-799/mt) ex-warehouse.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $680-710/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 $790-820/mt FOB.
$1 = INR 59.66