During the week ending November 12, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $450-460/mt FOB, remaining stable on average compared to November 5, while export offers for API 5L seamless pipe given by Chinese suppliers are at $470-480/mt FOB, January shipment, moving sideways on average compared to November 5.
| Product name | Quality | Spec. | Price ($/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 remained stable amid just slight changes in HRC futures prices. Demand for steel pipes has been slack, negatively affecting market sentiments. Supply and demand in the steel pipe market are tentatively balanced. Inventories of steel pipes are being consumed slowly and so traders have preferred to keep low inventory levels. It is thought that steel pipe prices in the Chinese domestic market will likely remain stable in the coming week.
As of November 12, HRC futures at Shanghai Futures Exchange are standing at RMB 3,255/mt ($457/mt), increasing by RMB 2/mt ($0.3/mt) or 0.06 percent since November 5, while rising by 0.22 percent compared to the previous trading day, November 11.
$1 = RMB 7.0833
