Following the trend in the Indian HRC market, welded pipe prices from Indian producers have begun to soften slightly. Domestic quotations of Indian black ERW pipes have remained unchanged in the national currency, while domestic prices of galvanized ERW pipes have dropped by INR 2,000/mt ($45-50/mt, currency fluctuations taken into account) over the past two weeks. Export prices for Indian ERW pipes have decreased by $50-60/mt over the same period. The welded pipe price trend in the coming period will depend on prices for HRC in the Indian market. Most Indian traders think that HRC prices may soften further, which would push down welded pipe quotations.
Domestic quotations of 2"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) are at levels of INR 40,000-43,000/mt ($890-955/mt) ex-works, excluding tax and 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 45,000-48,000/mt ($1,000-1,065/mt) ex-works.
Export quotations of 1"-6" black ERW pipes as per BS 1387 or IS 1239 are at the level $820-850/mt FOB on a theoretical weight basis. Export prices of Indian galvanized ERW pipes of 1"-6" size made to BS 1387 are at around $920-950/mt FOB.