During the week ending June 10, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-550/mt FOB, remaining stable on average compared to June 3, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, for September shipment, moving sideways on average compared to June 3.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 575 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 580 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 680 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 545 | - |
Ex-China steel pipe offer prices have enjoyed some advantages against other countries’ pipe offers, while uncertainties regarding transportation may affect market sentiments. Moreover, the ongoing rainy season in Southeast Asia will negatively affect the demand for steel pipes.
During the given week, steel pipe prices in the Chinese domestic market have remained stable amid the slack demand from downstream users. Destocking has been proceeding slowly, exerting a negative impact on steel pipe prices. However, some steel pipe producers plan to implement maintenance works, which may result in reduced outputs and provide support for prices. It is expected that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of June 10, HRC futures at Shanghai Futures Exchange are standing at RMB 3,380/mt ($496/mt), decreasing by RMB 6/mt ($0.9/mt) or 0.2 percent since June 3, while increasing by 0.6 percent compared to the previous trading day, June 9.
$1 = RMB 6.813
