The Indian welded pipe market is currently characterized by different trends. Domestic quotations of Indian welded pipes have declined by a maximum of INR 1,000/mt ($12/mt) over the past two weeks amid a lack of demand from local end-users. Over the same period, export offers of black ERW pipes have gone up by $15-20/mt on the back of slightly better demand from foreign customers, while export quotations of galvanized pipes have remained unchanged. Market players remain cautious as regards the future trend of the market, thinking welded pipe prices could soften as the summer season approaches.
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 34,000-35,000/mt ($531-547/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 39,000-42,000/mt ($609-656/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $590-610/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 $670-690/mt FOB.
$1 = INR 64.04