Welded pipe producers in India have attempted to raise their quotations on the back of higher flat steel prices and a slight increase in demand. Domestic quotations of Indian welded pipes have moved up by around INR 500/mt over the past month, while export offers of Indian welded pipes have risen by around $5-10/mt over the period under review. Meanwhile, market participants are still cautious due to uncertainty in the market and since demand for welded pipes in domestic and global markets remains unsatisfactory.
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 33,000-34,000/mt ($499-515/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 39,000-40,000/mt ($590-605/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $540-550/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 $640-655/mt FOB.
$1 = INR 66.07