During the week ending May 21, 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 May 14, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, June shipment, remaining stable compared to May 14.
| Product name | Quality | Spec. | Price ($/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 amid the slackened demand from downstream users. Meanwhile, the high temperature and rainy weather exerted a negative impact on construction activities, weakening the demand for steel pipe. There were increased room on traders’ side as they have been willing to sell at lower 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 May 21, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,211/mt ($446/mt), decreasing by RMB 56/mt ($7.8/mt) or 1.7 percent since May 14, while up 0.16 percent compared to the previous trading day, May 20.
$1 = RMB 7.1937