In the Indian market for welded pipes, most producers have been maintaining their prices stable amid moderate end-user demand, with some domestic prices weakening by INR 1,000/mt ($20-25/mt, currency fluctuations taken into account). At the same time export offers of welded pipes from Indian mills have risen by $25-30/mt in expectation of better demand. The market is expected to go up with the onset of autumn when typically the construction activity picks up. Export demand is suffering from the seasonal slowdown, but expected to improve gradually by the end of September. Also Indian steel makers, after a gap of almost 4 months, have started to increase the prices of flat products for sales in September. As a result, market participants expect that September prices of welded pipes will move up.
Domestic quotations of 1"-4" black ERW pipes made to IS 1239 or BS 1387 (light series) are at levels of INR 34,000-35,000/mt ($730-750/mt) ex-works, while ½"-3/4" pipes are at INR 35,000-35,500/mt ($750-760/mt) ex-works. Prices are given excluding tax and on actual weight basis. Offers of ERW pipes of 4"-6" of grade B as per API 5L are given to the local customers at INR 38,000-38,500/mt ($810-820/mt) ex-works. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 (light series) are in the range of INR 40,000-42,000/mt ($855-900/mt) ex-works.
Export quotations of 1"-4" black ERW pipes as per BS 1387 or IS 1239 from top Indian producers, like Jindal Pipes, are at the level $780-805/mt FOB, while ½"-3/4" pipes are at $805-820/mt FOB. Export prices of ERW pipes of 4"-6" of grade B made to API 5L are at around $870-880/mt FOB. Indian galvanized ERW pipes of 1"-6" size made to BS 1387 are offered for export at about $880-900/mt FOB.