Demand weak for time being in Indian welded pipe market

Thursday, 26 March 2015 17:24:52 (GMT+3)   |  
       

The situation in the Indian welded pipe market in India remains gloomy for now because of weak demand. Indian pipe suppliers have left their domestic offers mostly unchanged over the past two weeks, though a maximum INR 500/mt ($8/mt) decrease has been seen without support from downstream demand, while export offers for Indian ERW pipes are unchanged. Market players believe the price trend will likely move sideways in the short run and no strong demand is expected for the time being owing to low requirements from end-users and due to preparations of accounts at the end of the financial year.

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 38,000-39,500/mt ($604-628/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 44,000-45,000/mt ($700-716/mt) ex-works.

Traders in India are offering 2"-6" black ERW pipes of grade B as per ASTM A53 at around INR 40,000-41,700/mt ($636-663/mt) ex-warehouse, including excise duty and VAT.

Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $615-640/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 $720-740/mt FOB.

$1 = INR 62.88


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