Demand in the Indian welded pipe market remains rather slack due to unfavorable market conditions. Domestic quotations of Indian welded pipes have remained largely unchanged over the past two weeks owing to weak domestic consumption, while only the lowest end of galvanized ERW pipe prices has moved down by INR 500/mt ($18/mt). Export offers of Indian welded pipes have declined by around $10/mt over the period under review amid low inquiries from foreign buyers. Market players are cautiously optimistic about the prospects for a rebound in demand in the coming month given the anticipated revival in construction activities with the monsoon season receding from September.
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 32,500-34,000/mt ($492-515/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 38,500-40,000/mt ($583-606/mt) ex-works.
Most Indian producers are offering 1"-6" black ERW pipes as per BS 1387 (light series) to foreign customers at around $530-550/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 $630-650/mt FOB.
$1 = INR 66.0