Quiet activity in Chinese seamless pipe market as year-end draws close

Wednesday, 17 December 2014 16:52:22 (GMT+3)   |  
       

China's domestic seamless pipe market has remained sluggish due to weakening overseas and local demand with the year-end drawing close, coupled with cold weather. However, Chinese producers have kept their offers unchanged from the levels of two weeks ago as prices of raw material have showed no obvious changes. Market transactions may remain scarce in the coming period amid the slack season, the shrinking export outlook and mounting pressure from tighter liquidity.

Domestic prices of 4"-8" seamless pipes according to GB/8162-8163 are varying at around RMB 3,900-4,300/mt ($630-695/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 3,300-3,600/mt ($533-581/mt) ex-warehouse, including 17 percent VAT, while traders in Tianjin and Beijing are offering the same pipes at around RMB 3,250-3,550/mt ($525-576/mt) ex-warehouse.

Current export quotations from most Chinese manufacturers for 2"-6" Sch40 grade B seamless pipes according to ASTM A106/API 5L are on average at $550-580/mt FOB.

$1 = RMB 6.19


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