Demand for Indian welded pipes remains low in the domestic and export markets. However, domestic prices for welded pipes have risen in India by INR 1,000-1,500/mt ($13-23/mt) over the past two weeks amid higher production costs, while export prices of Indian welded pipes have increased by $10/mt over the same period. Indian mills are likely to keep welded pipe prices unchanged in the short run as demand in India is expected to remain sluggish until the end of the year as buyers try to avoid building up their inventories.
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 42,000-43,000/mt ($680-696/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 47,000-49,000/mt ($760-793/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $680-700/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 $780-800/mt FOB.
$1 = INR 61.6