China's steel pipe export prices have sunk to new lows amid shrinking overseas demand. Over the past two weeks, export prices for Chinese seamless and welded pipes have declined by $5-20/mt. Market players have no confidence in the future prospects for the market and believe that steel pipe prices may continue to soften in the short run given slack sales and declining export orders.
Current export quotations from most Chinese manufacturers for 2"-6" Sch40/Sch 80 seamless pipes of steel grade B according to ASTM A106/API 5L are on average at $400-445/mt FOB, while prices of 20"-24" Sch40/Sch80 seamless pipes are at levels of $480-510/mt FOB.
Current export prices of 2"-6" welded pipes of grade B according to ASTM A53/API 5L from Chinese mills are at around $370-390/mt FOB.