The Indian welded pipe market has been quiet over the past two weeks because of the national holidays in the country. Indian welded pipe makers have reduced their domestic quotations of 1"-6" black ERW pipes by INR 500/mt ($5-10/mt) over the past two weeks in a context of falling prices for flat steel and slack demand. Galvanized ERW pipe prices in India have not changed on Indian rupee basis, but in dollar terms domestic quotations have increased by $5/mt due to the strengthening of the national currency against the dollar. Although demand from foreign buyers remains weak, export prices of Indian welded pipes have increased by $20-25/mt over the past two weeks on the back of currency fluctuations. The flat steel product market in India has remained sluggish and will remain under pricing pressure with further reductions in global levels. As a result, welded pipe prices in India on rupee basis are expected to be more or less stable in the coming period. Demand for Indian welded pipes is unlikely to improve before January.
Domestic quotations of 1"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) are at levels of INR 35,500-36,500/mt ($800-825/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 42,000-43,000/mt ($950-970/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $775-800/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 $875-900/mt FOB.