China's seamless pipe prices have shown a downward trend over the past two weeks against the backdrop of continuous declines in prices of raw materials, scarce transactions, and the country's week-long National Day Holiday. Over the past two weeks, domestic mills' prices of seamless pipes have declined by RMB 20-50/mt ($4-9/mt), while local stockists have cut their offers by a maximum of RMB 50/mt ($9/mt). Export offers of seamless pipes from China have declined by $20/mt over the same period. Most market participants are pessimistic on the prospects for the market in the coming period and consider there may be a further price decline in the short term.
Domestic prices of 4"-8" seamless pipes according to GB/8162-8163 are varying at around RMB 3,950-4,430/mt ($643-721/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 3,450-3,700/mt ($561-602/mt) ex-warehouse, including 17 percent VAT, while traders in Tianjin and Beijing are offering the same pipes at around RMB 3,300-3,650/mt ($537-594/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 $560-600/mt FOB on theoretical weight basis.
$1 = RMB 6.14