Demand for welded pipes has failed to show any improvement in India over the past two weeks following the slowdown of growth in manufacturing. Welded pipe prices in India have remained stable over the past two weeks amid a lack of buying activity from both local and overseas customers. Most market players have no confidence in the outlook for the remainder of September. Considering the decrease in prices of HRC in the Indian market, lower offers of import material, slack demand and the festive season starting next month, insiders predict that it will be difficult for Indian welded pipe prices to indicate any increase until late October or early November.
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 ($655-680/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 ($754-778/mt) ex-works. Traders in India are offering 2"-6" black ERW pipes at around INR 46,000-48,000/mt ($754-786/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 $780-800/mt FOB.
$1 = INR 60.9