Seamless pipe prices in India still on the way up

The Indian market has continued to exhibit an upward trend for seamless pipe prices over the past month on the back of rising raw material costs and higher import offers. Over the past month domestic quotations of Indian seamless pipes have risen by INR 2,500-3,000/mt ($25-40/mt). Export offers of Indian seamless pipes have increased by $50/mt over the same period. Chinese suppliers have raised their seamless pipe offers for Indian customers by $70-80/mt during the period in question. Seamless pipe supplies are likely to remain tight in the coming period because of increasing production costs, and prices may continue to rise. However, market players are optimistic that the demand for bigger projects will provide support for price hikes for seamless pipe.
 
Domestic quotations of locally produced seamless pipes 2"-4" grade B made to ASTM A106 are at around INR 64,000-69,000/mt ($1,370-1,480/mt) ex-works on theoretical weight basis, excluding tax.
 
Export offers of seamless pipes 2"-4" grade B as per ASTM A106 from top Indian manufacturers are being given at around $1,460-1,560/mt FOB on theoretical weight basis.
 
Prices for Chinese seamless pipes 2"-6" grade B as per ASTM A106/API 5L given to India are at $950-1,020/mt C&F actual weight.