China's seamless pipe prices have continued to trend down amid a poor sales performance and the sharp price drops for raw materials such as iron ore and steel billets. Over the past two weeks, domestic prices of seamless pipes have decreased by RMB 50-100/mt ($7-16/mt), while export offers of seamless pipes from China have declined by $10-20/mt over the same period. Most market players are maintaining a wait-and-see stance and are not confident on the prospects for the market in the coming period. The Chinese seamless pipe market is unlikely to see a recovery in the short term.
Domestic prices of 4"-8" seamless pipes according to GB/8162-8163 are varying at around RMB 4,000-4,500/mt ($649-730/mt) ex-works, including 17 percent VAT.
Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are at around RMB 3,550-3,750/mt ($576-609/mt) ex-warehouse, including 17 percent VAT, while traders in Tianjin and Beijing are offering the same pipes at around RMB 3,450-3,800/mt ($560-617/mt) ex-warehouse.
Current export quotations from most Chinese manufacturers for 1 ½"-12" grade B seamless pipes according to ASTM A106/API 5L are on average at $600-650/mt FOB, while export offers of 14"-16" are in the range of $670-700/mt FOB.
$1 = RMB 6.16