Seamless pipe prices from Indian manufacturers have remained stable over the past month, while buying activity is still very low. Although fluctuations of the national currency have now stopped, buyers prefer to maintain a wait-and-see approach. Liquidity issues, the aggressive price cutting policy of Chinese suppliers and weak demand from both local and foreign buyers continue to weigh down on the Indian market. Many market players hold a largely pessimistic view of the short-term outlook for the domestic and foreign markets and do not foresee any positive changes in September.
Most offers of Indian seamless pipes of 2"-10" grade B made to ASTM A106 are being given to the local market at around INR 67,000-70,000/mt ($1,200-1,255/mt) ex-works on theoretical weight basis, excluding tax. Domestic quotations of 2"-4" seamless pipes of grade B made to ASTM A106 from top Indian pipe producers are at the level of INR 71,550-74,200/mt ($1,280-1,330/mt) ex-works, excluding tax.
The majority of export offers of Indian seamless pipes of 2"-10" grade B as per ASTM A106 are standing at around $1,250-1,320/mt FOB. Meanwhile, export quotations of the same pipes, 2"-4", from top Indian pipe producers are at the level of $1,340-1,390/mt FOB.
Prices for Chinese seamless pipes, 2"-6" Sch 40 grade B as per ASTM A106, given to India are at $780-850/mt CFR on actual weight basis, compared to $800-860/mt one month ago.