Activity in the welded pipe market in India has remained slow. Domestic prices of welded pipes have remained stable over the past two weeks on the back of stable coil prices. Export offers of welded pipes from Indian producers have declined by a maximum of $10/mt over the past fortnight amid poor buying activity. Market players are not optimistic about the prospects for the market in the coming period amid soft demand from downstream industries. Most market insiders believe welded pipe prices in India are unlikely to rebound 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 41,000-43,000/mt ($693-727/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 ($794-828/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $700-720/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 $800-830/mt FOB.
$1 = INR 59.04