The Indian welded pipe market has continued to see slow activity amid weak downstream domestic demand and slack export sales. Domestic quotations of Indian welded pipes have moved down by around INR 1,500-2,000/mt ($22-30/mt) over the past month, while export offers of Indian welded pipes have declined by around $30-40/mt over the period under review. The current condition of the Indian steel pipe industry remains dismal, with low profits, low capacity utilization and dim prospects for new private investment. Market players are dissatisfied with the current sales performance and believe that the market is unlikely to see any improvement during the remainder of the current year.
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 32,000-33,000/mt ($483-498/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 38,000-39,000/mt ($574-589/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $540-560/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 $630-650/mt FOB.
$1 = INR 66.21