During the week ending July 1, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-550/mt FOB, moving sideways on average compared to June 24, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, for September shipment, remaining unchanged on average compared to June 24.
| Product name | Quality | Spec. | Price ($/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 | - |
Steel pipe prices in the Chinese domestic market have remained stable amid the prevailing cautious sentiments among market players. High temperatures and widespread rainy weather have exerted a negative impact on outdoor construction activities, weakening the demand for steel pipes. Recently, steel pipe producers have reduced their production capacity utilization rates, easing the pressure from inventories to a certain degree. However, the weather may become even hotter in July and August, which will negatively affect steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will soften in the coming week.
As of July 1, HRC futures at Shanghai Futures Exchange are standing at RMB 3,285/mt ($482/mt), decreasing by RMB 40/mt ($5.9/mt) or 1.2 percent since June 24, while declining by 0.79 percent compared to the previous trading day, June 30.
$1 = RMB 6.8067
