Indian welded pipe producers report that their domestic sales remain stagnant due to sluggish domestic demand accompanied by dropping raw material costs. Domestic quotations of Indian welded pipes have declined by around INR 1,000/mt ($16/mt) over the past two weeks as the market is in the doldrums and buyers are holding back. Over the same period, Indian welded pipe exporters have increased their export offers of black ERW pipes by $10-25/mt on the back of a small improvement in demand from some foreign markets. The Indian welded pipe market is expected to remain quiet amid the traditional downturn in business activity during summer.
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 32,500-34,000/mt ($508-531/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 39,000-40,000/mt ($609-625/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $545-560/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 $640-660/mt FOB.
$1 = INR 64.01