Indian suppliers of welded pipes have been unable to implement targeted price increases due to still moderate demand from both foreign and local buyers. Domestic quotations of Indian ERW pipes have remained at the previous levels, while export prices of Indian ERW pipes have decreased by $20-30/mt over the two weeks in question. Meanwhile, domestic prices in US dollar terms have dropped by $10-15/mt over the past two weeks due to the weakness of the rupee. Market players believe prices for Indian welded pipes will likely remain stable in the coming short-term period due to the uncertainty in the market.
Indian domestic quotations of ½"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) are at levels of INR 42,000-43,000/mt ($820-840/mt) ex-works. Prices are given excluding tax and 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 47,000-48,000/mt ($915-935/mt) ex-works.
Export quotations of 1"-6" black ERW pipes as per BS 1387 or IS 1239 are at the level of $850-880/mt FOB on theoretical weight basis. Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 from most Indian producers are at around $950-980/mt FOB.