During the week ending November 19, 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 $450-460/mt FOB, moving sideways on average compared to November 12, while export offers for API 5L seamless pipe given by Chinese suppliers are at $470-480/mt FOB, for January shipment, remaining unchanged on average compared to November 12.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 475 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 475 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 455 | - |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways amid the prevailing cautious sentiments among market players. Since the weather is getting colder, activities at construction sites have slowed down, exerting a negative impact on the demand for steel pipes. Inventories of steel pipes have increased slightly, weakening the support for prices. HRC futures prices have edged up, bolstering steel pipe prices to a certain degree. It is thought that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of November 19, HRC futures at Shanghai Futures Exchange are standing at RMB 3,277/mt ($461.5/mt), increasing by RMB 22/mt ($3.1/mt) or 0.7 percent since November 12, while decreasing by 0.18 percent compared to the previous trading day, November 18.
$1 = RMB 7.0872