During the week ending May 7, 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 $450-470/mt FOB, remaining unchanged compared to April 30, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, for June shipment, remaining stable compared to April 30.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 495 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 495 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 660 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 460 | - |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways due to the Labor Day holiday (May 1-5). Some steel pipe producers have raised their ex-works prices due to rising raw material prices, while traders have not accepted the increases. Most market players are cautious as regards the future prospects for the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of May 7, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,217/mt ($447/mt), increasing by RMB 13/mt ($1.8/mt) or 0.4 percent since April 30, while up 0.34 percent compared to the previous trading day, May 6.
$1 = RMB 7.2005
