During the week ending July 23, average Chinese steel pipe export offer prices have moved up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $480-490/mt FOB, moving up by $30/mt on average compared to July 16, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-510/mt FOB, for November shipment, increasing by $20/mt on average compared to July 16.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 505 | +20 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 505 | +20 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 675 | +20 |
| Welded pipes | Gr.B | 2’’-6’’ Std | 485 | +30 |
During the given week, steel pipe prices in the Chinese domestic market have moved on an uptrend amid increasing raw material prices. Meanwhile, several government departments in China have stressed the need to curb excessive competition in the steel industry, bolstering market sentiments. Steel pipe producers have controlled their capacity utilization rates to a certain degree, easing the pressure on the supply side. In summer, downstream users have been unwilling to accept high-priced steel pipes, resulting in slack demand to a certain degree. It is expected that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of July 23, HRC futures at Shanghai Futures Exchange are standing at RMB 3,438/mt ($481.5/mt), increasing by RMB 185/mt ($26/mt) since July 16, while increasing by 0.2 percent compared to the previous trading day, July 22.
$1 = RMB 7.1414
