Traders remain cautious in sluggish Indian welded pipe market

Thursday, 24 April 2014 15:42:40 (GMT+3)   |  
       

The situation in the Indian welded pipe market remains unfavorable due to soft demand from downstream industries. Despite low stocks in the country, local pipe traders are cautious as regards concluding purchases amid financial problems and weak demand both from local and foreign markets. Over the past three weeks, both domestic and export offers of Indian welded pipes have stayed unchanged amid the slowness of activity in the market. Market insiders believe the welded pipe market in India is unlikely to indicate any improvement 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 42,000-44,500/mt ($691-732/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 47,000-49,000/mt ($773-806/mt) ex-works.

Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $700-730/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 $790-830/mt FOB.

$1 = INR 60.65


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