Most Indian welded pipe producers have cut prices amid sluggish demand in the domestic market and the ongoing slack buying activity of foreign customers. Falling feedstock costs have put additional pressure on welded pipe prices in India. Over the past two weeks, domestic prices of Indian welded pipes have decreased by around INR 1,000/mt ($11-12/mt), while export offers for Indian ERW pipes have declined by $20/mt over the period in question. Market insiders think the situation is unlikely to improve in the near future amid the economic instability in the domestic and global markets.
Domestic quotations of 1/2"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) from Indian producers are at levels of INR 40,000-42,000/mt ($724-760/mt) ex-works, excluding tax. Current domestic prices of 1"-6" galvanized ERW pipes made to BS 1387 (light series) are in the range of INR 46,000-47,000/mt ($833-851/mt) ex-works.
Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $730-780/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 $800-850/mt FOB.