India's seamless pipe market remains rather sluggish. Indian seamless pipe producers have cut their domestic offers by around INR 1,000/mt over the past month ($30-35/mt) amid the slacker activity of local buyers, while export quotations of Indian seamless pipes have decreased by $20-40/mt over the period under review due to poor demand from abroad. Market players are generally pessimistic given the negative conditions in consuming industries.
Most offers of Indian seamless pipes of 2"-10" grade B made to ASTM A106 are being given to the local market at around INR 64,000-67,000/mt ($1,190-1,250/mt) ex-works on theoretical weight basis, excluding tax. Domestic quotations of 2"-4" seamless pipes of grade B made to ASTM A106 from top Indian pipe producers are at the level of INR 69,000-74,000/mt ($1,285-1,380/mt) ex-works, excluding tax.
The majority of export offers of Indian seamless pipes of 2"-10" grade B as per ASTM A106 are standing at around $1,250-1,300/mt FOB. Meanwhile, export quotations of the same pipes, 2"-4", from top Indian pipe producers are at the level of $1,360-1,460/mt FOB.
Prices for Chinese seamless pipes, 2"-6" Sch 40 grade B as per ASTM A106, given to India are at $850-900/mt CFR on actual weight basis, compared to $800-850/mt one month ago.