During the week ending October 15, 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 $450-470/mt FOB, decreasing by $15/mt on average compared to September 24, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-490/mt FOB, November shipment, declining by $10/mt on average compared to September 24.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 485 | -10 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 485 | -10 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 655 | -20 |
| Welded pipes | Gr.B | 2’’-6’’ Std | 460 | -15 |
During the given week, steel pipe prices in the Chinese domestic market have moved down amid decreasing ferrous metal futures prices. The worsening trade frictions in the global market have negatively affected market sentiments. Demand for steel pipes from downstream users has not improved as expected after the long holiday, weakening market confidence. However, October is another month of the traditional peak season for the steel pipe market, which may bolster prices to a certain degree. It is expected that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of October 15, HRC futures at Shanghai Futures Exchange are standing at RMB 3,212/mt ($452/mt), decreasing by RMB 145/mt ($20.4/mt) or 4.3 percent since September 24, while decreasing by 0.86 percent compared to the previous trading day, October 14.
$1 = RMB 7.1077
