The Chinese seamless pipe market has continued to weaken. Transactions in the domestic market are scarce, while demand from foreign buyers also remains sluggish amid the current global economic uncertainty. Over the past two weeks, domestic quotations of Chinese seamless pipes have declined by RMB 50-100/mt ($8-16/mt) amid slow buying and a lack of confidence in the market, while export offers have stayed unchanged for the time being. Seamless pipe prices are expected to be largely unchanged in the coming short-term period amid low buying activity and the lack of support for any significant price increase.
Domestic prices of 4"-8" seamless pipes according to GB/8162-8163 are varying at around RMB 3,800-4,100/mt ($610-658/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 3,100-3,400/mt ($498-546/mt) ex-warehouse, including 17 percent VAT, while traders in Tianjin and Beijing are offering the same pipes at around RMB 3,150-3,400/mt ($506-546/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 $510-550/mt FOB.
$1 = RMB 6.23