Over the past two weeks, domestic quotations of seamless pipes in China have remained almost unchanged, though with some increases by a maximum of RMB 100/mt ($17/mt) seen amid stable market sentiment and upbeat expectations for the future market. Export quotations of seamless pipes from China have remained stable over the period under review due to weak overseas demand. Most market players hold a cautiously optimistic attitude as domestic demand and supply are characterized by uncertainty and as the global economy is recovering slowly.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 6,100-6,300/mt ($989-1,022/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 4,900-5,300/mt ($795-859/mt) ex-works. Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are varying at around RMB 4,100-4,300/mt ($665-697/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 $750-800/mt FOB, while offers from big producers may reach $880-920/mt FOB.
Export quotations for 4 ½"-13 3/8" casing J55 as per API 5CT are in the range of $900-950/mt FOB.