Seamless pipe demand remains moderate in the UAE. Local traders are very cautious about making large volume purchases due to minimal activity from consuming sectors, falling import quotations of seamless pipes and high stocks. Most foreign suppliers have reduced their seamless pipe offers due to slack buying activity in the market and currency fluctuations. In particular, offers for Chinese seamless pipes have remained almost unchanged over the past month. Prices of Romanian seamless pipes have decreased by $10-20/mt. Import offers of seamless pipes from South Africa have declined by $20-50/mt, while quotations of pipes from Argentina have moved down by $20-30/mt over the period under review. At the same time, offers for Italian pipes have gone down by $40-50/mt, while prices of seamless pipes from Japan and Germany have also decreased by a maximum of $50/mt mainly due to currency fluctuations. Meanwhile, quotations of Ukrainian material have increased by $50/mt over the past month. However, Ukrainian suppliers will probably have to make adjustments given the sluggish demand in the market. Market players expect no improvement in the near term, and demand may even slow in July due to the Muslim holy month of Ramadan.
Offers of Chinese seamless pipes of 2"-8" grade B made to ASTM/API are being given to the local UAE market at $900-950/mt CFR.
Quotations of Ukrainian (Interpipe) seamless pipes, 2"-12" grade B made to ASTM/API, are at $1,200-1,250/mt CFR.
Seamless pipes from Romania (ArcelorMittal) of 3"-10" grade B made to ASTM are quoted at about $1,400-1,420/mt CFR Dubai, while offers of 12"-14" pipes are being given at $1,420-1,470/mt CFR.
South African (ArcelorMittal) seamless pipes, 2"-6" grade B made to ASTM/API, are being quoted to the UAE in the range of $1,330-1,350/mt CFR.
Offers of seamless pipes from Argentina, 12"-14" grade B made to ASTM/API from Tenaris, are being given to the UAE at $1,800-1,850/mt CFR.
Offers of seamless pipes from Italy, 3" Sch 40 and 10" Sch 40 grade B made to ASTM from Tenaris Dalmine, are being given to the UAE at $1,700-1,760/mt CFR, while 6" Sch 40 seamless pipes are being quoted to the UAE at about $1,900-1,920/mt CFR.
Quotations of seamless pipes from France and Germany (V&M) and from Japan (Sumitomo) for 2"-6" grade B made to ASTM/API are at about $1,700-1,750/mt CFR.