Demand remains poor in the Indian seamless pipe market. Domestic offers of seamless pipes from high-quality producers have decreased by a minimum of INR 1,000/mt over the past two months, though in dollar terms the decrease was a minimum of $115/mt due to currency fluctuations. Export offers of seamless pipes from Indian producers have gone down by $120-250/mt over the past two months. Import offers of Chinese seamless pipes have remained at the level of one month ago, or are $50-80/mt lower than two months ago. Market players have a negative view of the outlook for the seamless pipe market up to the end of the year and in early 2012, reasoning that the bleak prospects for India's economic environment could continue to depress the seamless pipe market.
Domestic quotations of 2"-6" seamless pipes of grade B made to ASTM A106 from top Indian pipe producers are at the level of INR 62,000-63,000/mt ($1,145-1,165/mt) ex-works, excluding tax.
Export offers of Indian seamless pipes, 2"-10" grade B as per ASTM A106, are standing at around $1,180-1,200/mt FOB.
Prices for Chinese seamless pipes, 2"-6" Sch 40 grade B as per ASTM A106, given to India are at $900-950/mt CFR on actual weight basis.