Indian welded pipe demand soft
2013-12-16 09:33:47 [Print]
BEIJING (Asian Metal) 16 Dec 13 - Indian welded pipe prices are stable but the market is not good, with those of SS400 Φ114
A trader Mumbai tells Asian Metal that the price of welded pipe SS400 Φ114.3mm*4.2mm is INR47,000/t (USD761.4/t, VAT included), stable compared with that of last week.
The source discloses that market was slow recently and the demand from downstream buyers remained soft. He only holds a small stock of 2,000t to avoid potential losses, while the best level in the peak season is 5,000t . He says that though participants are confident of the coming market after the general election, it still needs more than four months . Under such a condition, he deems that the market will keep slow in the short term.
Another trader in Gujarat tells Asian Metal that his quotation for SS400 Φ114.3mm*4.0mm is INR48,000/t(USD777.6/t, VAT included), unchanged compared with that of last week.
According to the source, JSW Steel, one of the largest Indian steelmakers, said its crude steel production went up by 78% year on year to 1.07 million mt in November of the current year, while its long rolled product output totaled 144,000 mt, falling by 14% year on year . He reveals that the demand is not strong, thus the market price is hard to go up .
. 9mm*(3 . 6-4.2)mm at INR47,000-48,000/t (USD761 . 4-777.6/t, VAT included) at the moment . Insiders deem that the market will be slow in the short term.
A trader Mumbai tells Asian Metal that the price of welded pipe SS400 Φ114.3mm*4.2mm is INR47,000/t (USD761.4/t, VAT included), stable compared with that of last week.
The source discloses that market was slow recently and the demand from downstream buyers remained soft. He only holds a small stock of 2,000t to avoid potential losses, while the best level in the peak season is 5,000t . He says that though participants are confident of the coming market after the general election, it still needs more than four months . Under such a condition, he deems that the market will keep slow in the short term.
Another trader in Gujarat tells Asian Metal that his quotation for SS400 Φ114.3mm*4.0mm is INR48,000/t(USD777.6/t, VAT included), unchanged compared with that of last week.
According to the source, JSW Steel, one of the largest Indian steelmakers, said its crude steel production went up by 78% year on year to 1.07 million mt in November of the current year, while its long rolled product output totaled 144,000 mt, falling by 14% year on year . He reveals that the demand is not strong, thus the market price is hard to go up .