China's seamless pipe producers have not raised their prices further due to the slow recovery of end-user activity in the domestic and foreign markets. Most Chinese suppliers have not changed their seamless pipe offers over the past two weeks despite weak demand in all markets.
Market players believe seamless pipe quotations in China may still go down in the coming period taking into account poor activity of local and foreign buyers as well as softer feedstock prices.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 5,900-6,000/mt ($938-954/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 5,000-5,300/mt ($795-843/mt) ex-works. Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are varying at around RMB 4,500-4,700/mt ($716-748/mt) ex-warehouse, including 17 percent VAT.
Current export quotations from most Chinese manufacturers for 2"-8" Sch 40 grade B seamless pipes according to ASTM A106/API 5L are on average at $820-860/mt FOB. Export quotations of 2"-12" seamless pipes of grade B as per ASTM A106/API 5L from big producers are at around $920-960/mt FOB.