The last two weeks did not bring any significant changes to the demand situation in the Indian welded pipe market. Demand from local consumers has been weak due to sluggish trading activity owing to considerations relating to the end of the financial year (ended March 31). Most Indian welded pipe producers have maintained their domestic prices at previous levels, while export quotations of Indian welded pipes have also remained largely unchanged over the past two weeks without strong support from overseas demand. Welded pipe prices in India are expected to be more or less stable in the coming period given stable prices for flat steel products and the stagnancy on the demand side.
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 38,000-39,000/mt ($611-627/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 44,000-45,000/mt ($707-723/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $610-640/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 $720-740/mt FOB.
$1 = INR 62.2