Activity in the Indian welded pipe market remains weak amid slack construction activity in the low season. Indian welded pipe producers have mostly kept their domestic prices unchanged believing they will be able to raise them in the coming period. Demand for Indian welded pipe exports has slackened over the past two weeks given slower business activity at the year-end and due to the Christmas holidays in some countries. Nevertheless, Indian exporters have increased their welded pipes offers by around $10-20/mt over the period under review, considering that demand in major sales outlets will firm up after the holiday season and on the back of increasing quotations of raw materials.
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 42,000-43,000/mt ($678-694/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 ($758-790/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 $780-810/mt FOB.
$1 = INR 61.85