During the week ending August 6, 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, moving sideways on average compared to July 30, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-510/mt FOB, for November shipment, remaining stable on average compared to July 30.
| Product name | Quality | Spec. | Price ($/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 moved sideways amid the slack demand from downstream users in the traditional off-season. Meanwhile, high temperatures in southern China and heavy rains in northern China have exerted a negative impact on construction activities, weakening the support for steel pipe prices. The approaching military parade on September 3 will reduce the production of steel pipe and bolster prices. It is thought that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of August 6, HRC futures at Shanghai Futures Exchange are standing at RMB 3,451/mt ($487/mt), decreasing by RMB 32/mt ($4.5/mt) or 0.9 percent since July 30, while increasing by 0.41 percent compared to the previous trading day, August 5.
$1 = RMB 7.1409
