Activity in the Indian welded pipe market has been quiet with domestic and export prices being largely unchanged over the past two weeks. Market players believe welded pipe prices in India are powerless to go up in the short-term period, amid weak downstream demand and lower import feedstock prices. However, the current market situation may improve ahead of the Hindu Diwali festival in October and with the monsoon season drawing to an end. Also, market insiders expect to see stronger demand from end-users once the new Indian government's infrastructure spending policies are put in place.
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 40,000-41,500/mt ($660-685/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 46,000-47,500/mt ($759-784/mt) ex-works. Traders in India are offering 2"-6" black ERW pipes at around INR 46,000-48,000/mt ($759-792/mt) ex-warehouse.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $690-710/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 $780-810/mt FOB.
$1 = INR 60.44