During the week ending July 15, average Chinese steel pipe export offer prices moved up. Export offers for welded pipes from Chinese suppliers are currently at $540-560/mt FOB, up by $5/mt on average compared to July 8, while offers for API 5L seamless pipes for September shipment stand at $570-600/mt FOB, rising by $10/mt on average over the same period.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 575 | +10 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 580 | +10 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 680 | +10 |
| Welded pipes | Gr.B | 2’’-6’’ Std | 545 | +5 |
Ex-China steel pipe offer prices have edged up slightly amid active inventory replenishment by overseas buyers following the renewed escalation of the Iran-US war. Buyers in the Middle East have strengthened safety inspections of their oil and gas pipeline networks and storage facilities, while also rebuilding inventories, providing support for steel pipe demand.
In China’s domestic market, steel pipe prices have increased slightly amid a rebound in raw material prices. However, high temperatures across most regions of the country have weighed on steel pipe demand and limited the upward movement in prices. Transactions have mainly been driven by urgent purchasing requirements, while speculative demand has remained limited. Domestic steel pipe prices are expected to fluctuate within a narrow range in the coming week.
As of July 15, HRC futures at the Shanghai Futures Exchange stood at RMB 3,327/mt ($490/mt), increasing by RMB 27/mt ($4/mt), or 0.8 percent, compared to July 8 and rising by 1.12 percent compared to the previous trading day, July 14.
$1 = RMB 6.791
