During the week ending December 31, 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 $460-470/mt FOB, moving sideways on average compared to December 24, while export offers for API 5L seamless pipe given by Chinese suppliers are at $470-490/mt FOB, March shipment, remaining stable on average compared to December 24.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 480 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 480 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 465 | - |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways amid the prevailing cautious sentiments. Since the New Year holiday (January 1-3) is approaching, demand for steel pipe has been slack, exerting a negative impact on its prices. Transaction activities have been quiet ahead of the holidays, thereby sellers have been willing to bolster their offer 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 December 31, HRC futures at Shanghai Futures Exchange are standing at RMB 3,270/mt ($465/mt), decreasing by RMB 15/mt ($2.1/mt) or 0.46 percent since December 24, while decreasing by 0.52 percent compared to the previous trading day, December 30.
$1 = RMB 7.0288
