During the week ending May 28, average Chinese steel pipe export offer prices have fluctuated within a limited range. At present, export offers for welded pipe given by Chinese suppliers are in the range of $450-460/mt FOB, down $5/mt on average compared to May 21, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-500/mt FOB, June shipment, decreasing by $5/mt on average compared to May 21.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 490 | -5 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 490 | -5 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 660 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 460 | - |
During the given week, steel pipe prices in the Chinese domestic market have fluctuated within a limited range. There was less positive news on the macroeconomic side than expected, resulting in slack demand from downstream users. Meanwhile, rainy weather, especially in southern China, has exerted a negative impact on demand. Lately raw material prices have edged down, weakening the support for steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will likely edge down in the coming week.
As of May 28, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,100/mt ($431/mt), decreasing by RMB 111/mt ($15.5/mt) or 3.5 percent since May 21, while down 0.55 percent compared to the previous trading day, May 27.
$1 = RMB 7.1894