Activity in the seamless pipe market in India has been slow over the past month against a background of weak domestic end-user demand. Domestic prices for Indian seamless pipes have declined by INR 100-200/mt over the past month, while export offers of seamless pipes from Indian pipe producers have decreased by a maximum of $10/mt during the same period. Market sentiment is largely negative owing to the absence of strong demand from consuming industries in India and the lack of interest from overseas buyers.
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 52,500-54,500/mt ($843-878/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 $900-930/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 in the range of INR 63,500-65,000/mt ($1,020-1,044/mt) ex-works, excluding tax. Export offers of seamless pipes from top Indian pipe producers have declined to levels of $1,070-1,100/mt FOB.
$1 = INR 62.27