Purchasing activity in the seamless pipe market in Saudi Arabia has remained limited due to Feast of Sacrifice holiday without any perceptible buying from traders and the consuming industry. Also, the aggressive policy of Chinese suppliers has caused Saudi consumers to adopt a wait-and-see approach and to delay purchases of import material. Most foreign suppliers of seamless pipes have reduced their offers for Saudi buyers under pressure from falling import prices of Chinese material. Over the past month, Ukrainian suppliers have reduced their offers for Saudi buyers by $20-25/mt, while import quotations of Chinese seamless pipes have decreased by $20-30/mt. Over the same period, offers of Japanese material have moved down by $30-40/mt, while offers of South African seamless pipes to Saudi Arabia have remained unchanged. Market insiders hope to see favorable market conditions in the fourth quarter of this year on the back of a number of steel pipe consuming projects in the country.
Most offers of Chinese seamless pipes of 2"-6" grade B made to ASTM are being given to the Saudi Arabian market at $650-700/mt CFR.
Quotations of Ukrainian seamless pipes (Interpipe) of 2"-6" grade B made to ASTM A106/API 5L to Saudi Arabia are at $1,020-1,050/mt CFR, while 8"-10" pipes are offered at around $1,030-1,070/mt CFR.
South African seamless pipes (ArcelorMittal), 2"-6" grade B made to ASTM A106, are quoted at around $1,030-1,060/mt CFR Saudi Arabia.
Quotations from Japan (NSSMC) for seamless pipes of 2"-6" grade B made to ASTM A106/API 5L are at about $1,360-1,400/mt CFR Saudi Arabia.