MS (Mild Steel) Pipe Price Forecast Report 2024-2025 | Price Trend, Latest Prices, Market Analysis, News, Chart, Demand, Extensive Forecast, Historical and Forecast Data

MS (Mild Steel) Price Forecast

MS (Mild Steel) Pipe prices are likely to showcase fluctuations in the short term. Globally, the oversupply in MS pipe and feedstock iron ore sectors is limiting the pricing outlook for MS pipe. The demand trajectory is headed in a positive direction for the Indian MS pipe markets; however, the global slowdown is pulling the price forecast for Indian markets as well. Overall, confined price performance is anticipated for MS pipe in the year 2024.

Market Dynamics

Indian company Welspun Corp Ltd recently announced that its associate, East Pipes Integrated Company for Industry (EPIC) in Saudi Arabia, has secured contracts worth SAR 1.65 billion (approximately ₹3,670 crore) with Saudi Arabian Oil Co. (Aramco) to supply steel pipes over the next 19 months. India’s domestic finished steel consumption was estimated at around 119 MT in FY23 and has already reached about 112 MT in FY24 (until January 2024). This consumption is only expected to increase in the coming future. Because of this, the MS pipe traders witnessed a rise in revenues despite a downfall in production costs. Demands from the construction and building sectors are keeping the Indian MS pipe markets afloat. However, the global market dynamics are still challenging as the oversupply coupled with dull consumption is troubling the suppliers. Consequently, global crude steel production saw a 5% Y-O-Y decline in March’24. Affected by the sluggish global outlook, the Indian state-owned miner NMDC (National Mineral Development Corporation) also announced a 200-250 rupee per ton price cut in iron ore prices starting January’24. Overall, the recent market dynamics have been buoyant and range-bound for MS pipes.

Annual Outlook for MS (Mild Steel) Pipe Industry

The annual outlook for MS pipes presents a little underwhelming picture for the year 2024. The general global outlook is somewhat sluggish, with occasional ups and downs. The Indian consumer markets present some hope; however, the overall pricing forecast is still regressive for the most part. Rapid infrastructure development anticipated post-election investments are likely to uplift Indian MS pipe markets. Similarly, in Malaysia, Engtex group is expected to see a substantial increase in earnings in FY24, supported by a robust pipe replacement program and favorable market conditions in the country. In the previous financial year, post-COVID market recovery and trade normalization in Europe following the Russia and Ukraine war also helped support the prices. On the other hand, the unfolding of the Israel-Hamas war in 2024 has complicated the global trade scenario even more for the current FY. Even though the suppliers are trying to control the market dynamics by restricting production capacities, the markets are forecasted to continue to be demand-dependent for the majority of 2024. A fluctuating yet largely subdued price trajectory is anticipated for MS pipes going forward.

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