During the week ending May 20, 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 $520-530/mt FOB, decreasing by $5/mt on average compared to May 13, while export offers for API 5L seamless pipe given by Chinese suppliers are at $530-540/mt FOB, for August shipment, moving sideways on average compared to May 13.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 535 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 535 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 670 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 525 | -5 |
During the given week, steel pipe prices in the Chinese domestic market have fluctuated within a limited range amid declining ferrous metal futures prices. Widespread rainy weather has negatively affected downstream users’ purchases of steel pipes, slowing down destocking and exerting a negative impact on prices. Meanwhile, iron ore prices have edged down, also negatively affecting the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will edge down slightly in the coming week.
As of May 20, HRC futures at Shanghai Futures Exchange are standing at RMB 3,418/mt ($500/mt), decreasing by RMB 53/mt ($7.7/mt) or 1.5 percent since May 12, while down 0.03 percent compared to the previous trading day, May 19.
$1 = RMB 6.8397
