During the week ending March 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 $480-490/mt FOB, remaining stable compared to March 5, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-510/mt FOB, May shipment, remaining unchanged compared to March 5.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 505 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 505 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 670 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 485 | - |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways amid the slight declines in HRC futures prices. Production halts in northern China bolstered steel pipe prices to a certain degree. At the same time, the stormy weather in some regions of northern China has negatively affected the circulation of supplies, resulting in relatively low inventory levels in the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market may edge up in the coming week.
As of March 12, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,363/mt ($469/mt), decreasing by RMB 13/mt ($1.8/mt) since March 5, while up 0.63 percent compared to the previous trading day, March 11.
$1 = RMB 7.1696
