During the week ending January 8, 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 $490-500/mt FOB, moving sideways compared to December 25, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, January shipment, remaining unchanged compared to December 25.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 510 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 510 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 670 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 495 | - |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways as most construction sites have halted activities, resulting in slack demand. Some market players have been unwilling to build up stocks for winter usage, thereby exerting a negative impact on steel pipe prices. Both supply and demand remain weak currently, while cautious sentiments have prevailed among market participants. It is thought that steel pipe prices in the Chinese domestic market will likely continue to fluctuate within a limited range in the coming week.
As of January 8, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,321/mt ($452,9/mt), decreasing by RMB 104/mt ($14.2/mt) or 3.0 percent since December 25, while down 0.98 percent compared to the previous trading day, January 7.
$1 = RMB 7.1887
