Chinese seamless pipe suppliers have continued to insist on higher prices mainly given the stronger raw material costs. Thus, Chinese seamless pipe producers have increased their domestic prices by around RMB 100-200/mt ($17-34/mt) over the past month, while export offers have risen by around $20/mt. Meanwhile, demand remains weak in the major sales outlets. Most buyers consider the current increase in prices for China's seamless pipes unreasonable and are waiting for a bearish trend to return in August amid the forecasted decrease in feedstock quotations. In the short run, Chinese seamless pipe producers do not plan to cut their prices due to the steady rise in raw materials prices.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 6,000-6,200/mt ($972-1,004/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 4,700-5,000/mt ($761-810/mt) ex-works. Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are varying at around RMB 4,050-4,300/mt ($656-696/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 $720-780/mt FOB, while offers from big producers may reach $850-900/mt FOB.
Export quotations of Chinese 2"-12" seamless pipes of grade B as per ASTM A106 from stocks can be heard at around $680-700/mt FOB.