During the week ending July 30, 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 on average compared to July 23, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-510/mt FOB, November shipment, moving sideways on average compared to July 23.
| Product name | Quality | Spec. | Price ($/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 | 675 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 485 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained stable amid increasing futures prices and slack demand from downstream users. Floods in northern China caused by continuous heavy rains and typhoon CO-MAY in eastern China have exerted a negative impact on the demand for steel pipes. Inventory of steel pipes has been at relatively low levels, bolstering prices to a certain degree. The traditional off-season is continuing and so demand for steel pipes is unlikely to improve in the short term. It is thought that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of July 30, HRC futures at Shanghai Futures Exchange are standing at RMB 3,483/mt ($487/mt), increasing by RMB 45/mt ($6.3/mt) or 1.3 percent since July 23, while increasing by 0.81 percent compared to the previous trading day, July 29.
$1 = RMB 7.1441
