Due to the weakness of the rupee against the dollar and the lower demand in the external market, export prices have remained unchanged over the past two weeks, with just the upper end of export prices for black ERW pipes increasing by $30/mt during the period in question.
In general, raw material cost is at present the main factor influencing welded pipe prices, as even the current positive demand in the domestic market is insufficient to push prices up by a significant margin. India's welded pipe market is expected to trend sideways in the coming period.
In particular, SteelOrbis has learned that current local quotations of Indian ERW pipes are at about INR 32,500-34,000/mt ex-works ($670-700/mt). Domestic prices for electric-welded galvanized pipes are in the range of INR 42,000-45,000/mt ex-works ($870-930/mt), depending on producers. These prices are on theoretical weight basis, excluding tax.
Export offers of Indian 1"-6" ERW pipes as per BS 1387 are being given at an average of $650-700/mt FOB, with export offers of electric-welded galvanized pipes at $750-780/mt FOB.