During the week ending February 12, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $490-500/mt FOB, remaining stable compared to February 5, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, March shipment, remaining unchanged compared to February 5.
| Product name | Quality | Spec. | Price ($/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 week, steel pipe prices in the Chinese domestic market have fluctuated within a limited range as part of traders haven’t been back to the market. Ferrous metal futures prices moved up first while decreased later, signaling the prevailing cautious sentiments among market players. Inventory of steel pipe has seen rises, exerting a negative impact on its prices. However, the market will gradually recover after the Lantern Festival, thereby the demand for steel pipe is likely to improve. It is thought that steel pipe prices in the Chinese domestic market will edge up in the coming week.
As of February 12, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,415/mt ($476/mt), decreasing by RMB 1/mt ($0.14/mt) since February 5, while up 0.15 percent compared to the previous trading day, February 11.
$1 = RMB 7.171
