During the week ending November 5, average Chinese steel pipe export offer prices have moved down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $450-460/mt FOB, down by $5/mt on average compared to October 29, while export offers for API 5L seamless pipe given by Chinese suppliers are at $470-480/mt FOB, January shipment, moving down by $10/mt on average compared to October 29.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 475 | -10 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 475 | -10 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | -5 |
| Welded pipes | Gr.B | 2’’-6’’ Std | 455 | -5 |
During the given week, steel pipe prices in the Chinese domestic market have moved down amid decreasing ferrous metal futures prices. Bearish sentiments have prevailed among market players, exerting a negative impact on the steel pipe market. The weather is getting colder in northern China, slackening the demand for steel pipes and also weakening the support for prices. It is thought that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of November 5, HRC futures at Shanghai Futures Exchange are standing at RMB 3,253/mt ($457/mt), decreasing by RMB 92/mt ($13/mt) or 2.75 percent since October 29, while decreasing by 0.85 percent compared to the previous trading day, November 4.
$1 = RMB 7.0901
