During the week ending December 4, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $490-500/mt FOB, moving sideways compared to November 27, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, January shipment, remaining stable compared to November 20.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 510 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 510 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 670 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 495 | - |
During the given period, steel pipe prices in the Chinese domestic market have remained stable amid the prevailing cautious sentiments among market players. Though the end of the year is approaching and the weather is getting colder and colder, downstream users have mostly maintained a wait-and-see stance as regards building up stocks. Traders have chosen to consume part of their current stocks, aiming to reduce inventories and leave some space for stock replenishment in the near future. It is thought that steel pipe prices in the Chinese domestic market will likely continue to fluctuate within a limited range in the coming week.
As of December 4, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,525/mt ($490/mt), increasing by RMB 52/mt ($7.2/mt) or 1.5 percent since November 27, while down 0.23 percent compared to the previous trading day, December 3.
$1 = RMB 7.1934
