Domestic demand for welded pipes in India has started to slacken due to the seasonal lull, while foreign demand remains weak. Over the past two weeks, domestic prices of Indian welded pipes have decreased by a maximum of INR 1,000/mt ($10-15/mt), while export offers for Indian ERW pipes have declined by $20/mt over the period in question. Buying activity in the Indian welded pipe market will likely remain sluggish in the coming period with the start of the monsoon season, while demand from foreign buyers is not expected to revive in the near term due to the unfavorable economic situation.
Indian domestic quotations of ½"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) are at levels of INR 40,000-42,000/mt ($720-750/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) or IS 1239 are in the range of INR 46,000-48,000/mt ($825-860/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $730-760/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 $830-860/mt FOB.