Buying sentiment remains weak in the UAE seamless pipe segment. Local trading companies are hesitating to purchase material taking into account the ongoing weakness of consumer demand. Over the past month, seamless pipe offers from China have declined by $20-50/mt, while quotations of Ukrainian pipes have weakened by $5-10/mt. Quotations of Romanian material have decreased by around $15-30/mt, while import offers of seamless pipes from Germany and Italy have remained unchanged at their previous levels. Market players expect this situation to continue until global economic sentiment improves. Seamless pipe prices are anticipated to remain stable in the coming month as the market is not ready for any hikes.
Most offers of seamless pipes of 2"-8" grade B made to ASTM/API from the majority of Chinese mills are being given to the local UAE market at $450-500/mt CFR.
Quotations of Ukrainian seamless pipes, 2"-6" Sch 40 grade B made to ASTM/API, are at $870-905/mt CFR.
Seamless pipes from Romania (ArcelorMittal) of 3"-10" grade B made to ASTM/API are quoted at about $990-1,020/mt CFR.
Quotations from Germany and France (V&M) for seamless pipes of 2"-6" grade B made to ASTM/API are at about $1,030-1,050/mt CFR.
Offers of 2”-6” seamless pipes from Italy (Tenaris Dalmine) of grade B made to ASTM/API are being given to the UAE at $1,220-1,250/mt CFR.