During the week ending July 8, 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 $540-550/mt FOB, remaining stable on average compared to July 1, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, September shipment, moving sideways on average compared to July 1.
| Product name | Quality | Spec. | Price ($/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 basically remained stable amid the slack demand from downstream users against the backdrop of the traditional off-season. Domestic demand for steel pipe has been dampened by a succession of severe convective weather events, including a tornado in Huanggang, Hubei Province and floods in Guangxi Province, which have negatively affected prices. Following the plum rainy season, high temperatures have hit China, exerting a negative impact on market sentiments. It is expected that steel pipe prices in the Chinese domestic market will edge down in the coming week.
As of July 8, HRC futures at Shanghai Futures Exchange are standing at RMB 3,300/mt ($482/mt), increasing by RMB 15/mt ($2.2/mt) or 0.46 percent since July 1, while rising by 0.33 percent compared to the previous trading day, July 7.
$1 = RMB 6.8077
