Indian welded pipe producers report that their sales remain stagnant due to sluggish domestic and foreign demand. However, domestic quotations of Indian welded pipes have moved up by INR 1,000-2,000/mt ($16-32/mt) over the past two weeks on the back of higher production costs. Meanwhile, buying activity remains sluggish with buyers are postponing bookings or buying material in small quantities amid uncertainty. Over the same period, export offers of black ERW pipes have gone down by a maximum of $10/mt reflecting the lack of intestest from overseas buyers. Most players hold a negative outlook of the prospects for the market in the coming period.
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 35,000-37,000/mt ($546-577/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 41,000-43,000/mt ($639-670/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $580-600/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 64.05