Due to the still low level of demand for Indian welded pipes from foreign consumers, export quotations of Indian ERW pipes have dropped by $20-40/mt over the past two weeks.
Nevertheless, market insiders think that Indian producers will try to increase domestic and export prices of welded pipes again to compensate for increasing production costs. The price trend is expected to fluctuate in the near future as it adapts to the demand level and the cost of flat products.
Current offers of Indian 1"-6" black ERW pipes are being given to the domestic market at about INR 32,000-35,000/mt ex-works ($660-720/mt). Local quotations of electric-welded galvanized pipes are in the range of INR 39,000-42,000/mt ex-works ($800-860/mt), depending on producers. These prices are on theoretical weight basis, excluding tax.
Export quotations of Indian 1"-6" black ERW pipes as per BS 1387 (light series) are at the level $700-720/mt FOB, with export offers of 1"-6" galvanized ERW pipes at $800-830/mt FOB.