During the week ending August 20, average Chinese steel pipe export offer prices have edged down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $470-480/mt FOB, down by $10/mt on average compared to August 13, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, November shipment, moving down by $10/mt on average compared to August 13.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 495 | -10 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 495 | -10 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 675 | 0 |
| Welded pipes | Gr.B | 2’’-6’’ Std | 475 | -10 |
During the given week, steel pipe prices in the Chinese domestic market have seen declines amid the prevailing cautious sentiments among market players. Currently, the high temperature and heavy rains in some regions of China in the traditional off-season have weakened the demand for steel pipe, resulting in decreases in prices. HRC futures prices have moved down, exerting a negative impact on steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will move sideways in the coming week amid the expected production cuts as the military parade to be held in September is approaching.
As of August 20, HRC futures at Shanghai Futures Exchange are standing at RMB 3,402/mt ($477/mt), decreasing by RMB 49/mt ($7/mt) since August 13, while declining by 0.61 percent compared to the previous trading day, August 19.
$1 = RMB 7.1384
