During the week ending October 29, 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 stable on average compared to October 22, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-490/mt FOB, December shipment, remaining stable on average compared to October 22.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 485 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 485 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 655 | - |
| 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 increasing HRC futures prices. Several cities in Hebei Province have been required to halt production for environmental protection, bolstering market sentiments. Inventories of steel pipe have been at relatively low levels, exerting a positive impact on its prices. The President of China, Xi Jinping will hold a meeting with the US President Trump in Busan, South Korea, on October 30, which might ease the tension between two countries and positively affect market sentiments. It is expected that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of October 29, HRC futures at Shanghai Futures Exchange are standing at RMB 3,345/mt ($457/mt), increasing by RMB 98/mt ($13.8/mt) or 3.0 percent since October 22, while increasing by 1.21 percent compared to the previous trading day, October 28.
$1 = RMB 7.0843
