Activity in the Indian welded pipe market is slow amid weak demand both at home and abroad at the ear-end. Over the past two weeks domestic Indian welded pipe prices have remained stable amid nearly slack market conditions, while traders' offers have declined by INR 1,000/mt ($34/mt). Export offers for Indian ERW pipes have remained unchanged amid sideways movement in HRC prices and poor demand from the key export destinations. It is thought that the Indian welded pipe market will remain quiet, while prices are not expected to increase in the short term.
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 39,500-41,000/mt ($620-644/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 45,000-47,000/mt ($707-738/mt) ex-works.
Traders in India are offering 2"-6" black ERW pipes of grade B as per ASTM A53 at around INR 45,000-46,000/mt ($707-723/mt) ex-warehouse.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $650-680/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 $750-780/mt FOB.
$1 = INR 63.5