During the week ending August 5, 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 $540-560/mt FOB, remaining stable on average compared to July 29, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-600/mt FOB, for September shipment, moving sideways on average compared to July 29.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2''-6'' Std | 585 | 0 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3''-8'' Std | 590 | 0 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3'' Std | 690 | 0 |
| Welded pipes | Gr.B | 2''-6'' Std | 550 | 0 |
During the given week, steel pipe prices have fluctuated within a limited range amid slightly rising outputs and the slack demand from downstream users. Inventories of steel pipe have declined slightly, providing support for prices. The widespread extreme high temperatures in China are exerting a negative impact on the demand for steel pipes. Meanwhile, two typhoons, Dolphin and Chan Hom, are going to bring heavy rainfall to coastal areas of China, which will negatively affect transportation as well as construction activities. Support from raw materials, including coke and iron ore, has slackened amid declines in prices. It is thought that steel pipe prices in the Chinese domestic market will likely continue to fluctuate within a limited range in the coming week.
As of August 5, HRC futures at Shanghai Futures Exchange are standing at RMB 3,207/mt ($472/mt), decreasing by RMB 79/mt ($11.6/mt) or 2.4 percent since July 29, while rising by 0.31 percent compared to the previous trading day, August 4.
$1 = RMB 6.7889
