Indian seamless pipe prices follow stable trend in quiet market

Wednesday, 29 August 2012 14:59:45 (GMT+3)   |  
       

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.


Similar articles

US structural pipe and tube exports down 41.7 percent in January

22 Mar | Steel News

US structural pipe and tube imports up 13.6 percent in January

19 Mar | Steel News

US rig count increases while Canadian count drops week-on-week

23 Feb | Steel News

US structural pipe and tube exports down 22.3 percent in December

23 Feb | Steel News

US structural pipe and tube imports up 9.9 percent in December

16 Feb | Steel News

US OCTG imports up 51.8 percent in December

07 Feb | Steel News

US rig count drops while Canadian count rises week-on-week

02 Feb | Steel News

US and Canadian rig counts increase week-on-week

26 Jan | Steel News

US OCTG exports down 8.1 percent in November

26 Jan | Steel News

US structural pipe and tube imports down 7.5 percent in November

23 Jan | Steel News