The Indian seamless pipe market is quiet due to the seasonal decline in buying activity. Indian producers have cut domestic offers of seamless pipes by INR 2,000-3,000/mt ($31-47/mt) over the past month, while export offers of seamless pipes from Indian producers have gone down by $35-50/mt over the past month. The Indian seamless pipe market may indicate a soft trend in the coming period considering that the current monsoon season will lead to a slowdown in construction activity and a further fall in demand for seamless pipes.
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 48,000-50,000/mt ($755-787/mt) ex-works on theoretical weight basis, excluding tax. Domestic quotations of 2"-4" seamless pipes of grade B made to ASTM A106 from top Indian pipe producers are in the range of INR 52,000-54,000/mt ($818-849/mt) ex-works, 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 $815-830/mt FOB on theoretical weight basis, while export offers of seamless pipes from top Indian pipe producers are at $890-900/mt FOB.
$1 = INR 63.57