Demand for welded pipes in India is currently depressed due to seasonal factors. The foreign markets are also remain quiet due to economic instability and the holiday season. Meanwhile, domestic prices of locally produced welded pipes have remained unchanged over the past two weeks, while export quotations have declined by a maximum of $10/mt. Market players believe prices for Indian welded pipes will continue to slide down due to a decline in domestic feedstock prices as well as poor demand.
Domestic quotations of 1/2"-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 ($733-769/mt) ex-works, excluding tax. ERW pipes of 4"-6" made to API 5 L grades B are quoted in the domestic market at INR 45,000/mt ($805/mt) ex-works. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 (light series) are in the range of INR 46,000-47,000/mt ($822-840/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $720-750/mt FOB on theoretical weight basis. At the same time, export quotations of 1"-4" black ERW pipes as per BS 1387 or IS 1239 from top Indian producers such as Jindal Pipes are at the level of $810-815/mt FOB, while prices of 1/2"-3/4" pipes are at around $820-825/mt FOB. Offers of 4"-6" black ERW pipes of grade B made to API 5L are being given to the external market at around $860/mt FOB.
Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $820-850/mt FOB.