Activity in the Indian welded pipe market is slow amid weak demand both at home and abroad. Over the past two weeks, domestic prices of Indian welded pipes have decreased by INR 500-1,000/mt ($11-20/mt), while export offers for Indian ERW pipes have not been revised. Meanwhile, demand for welded pipes in the domestic market has continued to remain weak and the severe liquidity crisis restricts buying interest. Foreign demand is still lackluster amid seasonal factors. Given that there is an absence of strong demand, insiders predict that welded pipe prices are unlikely to rise before next January.
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 39,500-41,000/mt ($636-660/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 45,000-47,000/mt ($724-757/mt) ex-works.
Traders in India are offering 2"-6" black ERW pipes of grade B as per ASTM A53 at around INR 46,000-47,000/mt ($741-757/mt) ex-warehouse.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $650-680/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 $750-780/mt FOB.
$1 = INR 61.98