The Chinese domestic seamless pipe market has continued to see slow activity over the past two weeks, with no signs of improvement in demand. China's seamless pipe prices have remained largely unchanged over the past two weeks amid muted sentiment. However, end-users have not been making many purchases due to the slack demand and negative outlook. Most market insiders do not plan to adjust their quotations in the near future, considering the current weak demand situation, and prefer to maintain a wait-and-see stance.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 6,000-6,100/mt ($972-989/mt) ex-works, including 17 percent VAT. Chinese domestic prices of 2"-6" seamless pipes according to GB/8162-8163 are varying at around RMB 5,000-5,100/mt ($810-827/mt) ex-works. Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are at around RMB 3,900-4,150/mt ($632-672/mt) ex-warehouse, including 17 percent VAT, while traders in Tianjin are offering the same pipes at around RMB 3,600-3,800/mt ($583-616/mt) ex-warehouse.
Current export quotations from most Chinese manufacturers for 2"-12" grade B seamless pipes according to ASTM A106/API 5L are on average at $680-720/mt FOB.
$1 = RMB 6.17