Chinese producers of seamless pipes have increased their domestic prices on average by RMB 150-200/mt ($20-30/mt) and raised their export quotations by an average of $20-30/mt over the past two weeks. The increases took place amid rising prices for round billet and some degree of revival of the domestic market, though demand from foreign customers has remained rather sluggish. As regards the future, improving demand in the Chinese market may stimulate seamless pipe price growth in the coming weeks.
Chinese domestic prices of seamless pipes, 2"-6" grade B according to ASTM A106 or GB/8163, are currently varying at around RMB 4,700-5,000/mt ($690-730/mt) ex-works, compared to RMB 4,500-4,850/mt ($660-710/mt) ex-works two weeks ago. These prices for the local market include 17 percent VAT and are on actual weight basis. Domestic quotations of tubing pipes of 2"-4" size, grade J55 as per API 5CT, plain-ended, are at about RMB 5,000-5,500/mt ($730-805/mt) ex-works. Chinese domestic prices for casing, 6"-8" grade J55 according to API 5CT, are varying at around RMB 4,700-5,000/mt ($690-730/mt) ex-works.
Current export offers of seamless pipes from Chinese manufacturers for 2"-8" grade B material according to ASTM A106/API 5L are on average at $680-710/mt FOB, while 1"-1 ½" pipe sizes are at $720/mt FOB, with ½"-3/4" pipe sizes at $840-880/mt FOB. Export quotations for 2"-4" tubing J55 as per API 5CT, plain ends, are in the range of $750-770/mt FOB, while quotations for 6"-8" casing are at $730-750/mt FOB.