India: Major tube producer slashes ERW pipe prices for early-Sep'24 sales
A major tube producer that specialises in manufacturing ERW pipes has reduced its list prices by approximately INR 2,500/t ($30/t) m-o-m for early-Sep'24 sales. Post-revision, effective prices for base grade ERW pipes (25-125 NB, 2.2-6 mm thickness) stood at INR 60,000/t ($715/t) ex-Jharkhand, excluding GST at 18%. The price reduction is primarily due to declining raw material costs, weaker demand, and aggressive pricing from competitors.