The Chinese seamless
pipe market has continued to indicate a soft trend as weak sentiment prevails. Mills' domestic offers for seamless pipes in
China have been stable over the past two weeks, while spot prices have declined by RMB 50-100/mt ($9-18/mt) reflecting the weakness in the domestic market.
China's seamless
pipe export offers have decreased by around $10-20/mt amid slow buying from overseas customers. Market players believe seamless
pipe prices in
China are unlikely to rebound in the near future amid sluggish demand, the lack of support from the raw materials segment and the uncertain outlook.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 6,100-6,200/mt ($993-1,010/mt) ex-works, including 17 percent VAT. Chinese domestic prices of 2"-6" seamless pipes according to GB/8162-8163 are varying at around RMB 5,000-5,200/mt ($814-847/mt) ex-works. Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are at around RMB 3,950-4,150/mt ($643-676/mt) ex-warehouse, including 17 percent VAT.
Current export quotations from most Chinese manufacturers for 2"-12" grade B seamless pipes according to ASTM A106/API 5L are on average at $730-760/mt FOB, while offers from big producers have remained at levels of $850-860/mt FOB.
Export prices for 7"-9 5/8" casing pipes of J55 strength grade, as per API 5CT, plain ends, are at about $850-900/mt FOB, while 2 7/8"-3 1/2"
tubing, plain ends, are at around $900-950/mt FOB.
$1 = RMB 6.14