Indian producers of welded pipes have kept increasing their domestic and export quotations, citing higher costs of feedstock material. Over the past two weeks, domestic quotations of Indian ERW pipes have increased by INR 1,000/mt ($5-10/mt, currency fluctuations taken into account), while export offers of Indian pipes have increased by $30-40/mt over the period under review. Prices of raw materials have jumped substantially in the last few months and, as a result, pipe prices have had to move in tandem with input costs. It is likely that global price levels for flat steel products will surge further in the coming period giving more reasons for Indian pipe makers to hike their prices.
Indian domestic quotations of ½"-6" black ERW pipes made to IS 1239 or BS 1387 (light series) are at levels of INR 39,000-41,000/mt ($830-880/mt) ex-works. Prices are given excluding tax and 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 45,000-46,000/mt ($960-980/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $860-870/mt FOB on theoretical weight basis. At the same time, export quotations of 1"-4" black ERW pipes as per BS 1387 or IS 1239 from top Indian producers, like Jindal Pipes, are at the level $890-910/mt FOB.
Export prices of galvanized ERW pipes of 1"-6" size made to BS 1387 are at around $940-970/mt FOB.