During the week ending July 2, 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 $440-450/mt FOB, moving sideways on average compared to June 25, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-490/mt FOB, for September shipment, remaining unchanged on average compared to June 25.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 485 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 485 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 655 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 445 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained stable amid the slack demand from downstream users due to the high temperatures and heavy rains in the country. Most steel pipe producers have cut outputs, reducing supply to the spot market and bolstering prices to a certain degree. However, following the plum rainy season in the middle and lower reaches of the Yangtze River, widespread hot weather has hit the region, which will continue to negatively affect the demand for steel pipes. It is thought that steel pipe prices in the Chinese domestic market may indicate a downward trend in the coming week.
As of July 2, HRC futures at Shanghai Futures Exchange are standing at RMB 3,191/mt ($446/mt), increasing by RMB 93/mt ($13/mt) or 3 percent since June 25, while increasing by 2.24 percent compared to the previous trading day, July 1.
$1 = RMB 7.1546
