During the week ending November 26, 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 $450-460/mt FOB, remaining stable on average compared to November 19, while export offers for API 5L seamless pipe given by Chinese suppliers are at $470-480/mt FOB, January shipment, moving sideways on average compared to November 19.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 475 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 475 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 455 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained stable amid the combined influence of weak demand and increasing HRC futures prices. Cautious sentiments have prevailed among market players due to the slack demand in the traditional offseason. Recently, iron ore prices have increased, bolstering steel pipe prices from the cost side. Construction activities may be quieter in northern China due to the cold weather, which will weaken the support for steel pipe prices. It is expected that steel pipe prices in the Chinese domestic market will edge down in the coming week.
As of November 26, HRC futures at Shanghai Futures Exchange are standing at RMB 3,304/mt ($465/mt), increasing by RMB 27/mt ($3.8/mt) or 0.8 percent since November 19, while decreasing by 0.03 percent compared to the previous trading day, November 25.
$1 = RMB 7.0796
