During the week ending May 14, 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 $450-470/mt FOB, remaining stable compared to May 7, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, June shipment, moving sideways compared to May 7.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 495 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 495 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 660 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 460 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained unchanged amid the relatively low inventory levels. On May 12, the US-China trade negotiations made substantial progress, positively affecting steel pipe prices. However, it is about to enter the rainy season in late May in southern China, which will exert a negative impact on steel pipe market. It is expected that steel pipe prices in the Chinese domestic market will edge down in the coming week.
As of May 14, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,267/mt ($454/mt), increasing by RMB 50/mt ($7/mt) or 1.55 percent since May 7, while up 1.27 percent compared to the previous trading day, May 13.
$1 = RMB 7.1956
