The Chinese seamless pipe market has been quiet over the past two weeks. Although round billet feedstock prices continue to rise, Chinese seamless pipe producers have kept their domestic and export quotations stable in the given period amid rather slack buying activity.
Market operators believe seamless pipe prices may follow a weak trend in the short run against the background of the seasonal demand downturn and fragile global economic growth.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 5,700-5,850/mt ($908-932/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 4,800-5,000/mt ($765-797/mt) ex-works. Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are varying at around RMB 4,350-4,600/mt ($693-733/mt) ex-warehouse, including 17 percent VAT.
Current export offers of seamless pipes from Chinese manufacturers for 2"-8" Sch 40 grade B material according to ASTM A106/API 5L are on average at $880-940/mt FOB. Export quotations of 2"-10" seamless pipes of grade B as per ASTM A106/API 5L from small producers are at around $760-820/mt FOB.