The welded pipe market in India has stalled over the past two weeks amid the slowdown in demand from the construction sector owing to the monsoon season. Domestic quotations of Indian welded pipes have remained stable amid poor buying activity. Indian welded pipe exporters are facing tight competition in the overseas markets and have been unable to increase their export quotations due to lower offers from other suppliers. Participants are short of confidence in the market recovery and insiders expect welded pipe prices in India will continue on their weak trend in the near future.
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 34,000-36,000/mt ($535-567/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 40,000-43,000/mt ($630-677/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 63.51