The Indian seamless pipe market has seen scarce purchasing activities over the past month, with trading remaining thin amid purchasing. Domestic prices for Indian seamless pipes have declined by INR 300-500/mt over the past month on sluggish demand and lower raw material costs. Besides, export offers of seamless pipes from Indian pipe producers have stayed unchanged though foreign customers have been slow in making purchases. Most market insiders hold pessimistic attitude towards the market performance in the first half of the year plagued by slow demand growth in domestic market and no sign of improvement in overseas demand.
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 52,500-54,700/mt ($853-889/mt) ex-works on theoretical weight basis, excluding tax.
The majority of export offers of Indian seamless pipes of 2"-6" Sch 40 grade B as per ASTM A106 are standing at around $900-940/mt FOB on theoretical weight basis.
Domestic quotations of 2"-4" seamless pipes of grade B made to ASTM A106 from top Indian pipe producers may reach INR 63,600-65,000/mt ($1,034-1,058/mt) ex-works, excluding tax. Export offers of seamless pipes from top Indian pipe producers have declined to levels of $1,070-1,100/mt FOB.
$1 = INR 61.53