During the week ending June 25, 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 $440-450/mt FOB, remaining stable on average compared to June 18, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-490/mt FOB, September shipment, moving sideways on average compared to June 18.
| Product name | Quality | Spec. | Price ($/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 | 445 | - |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways. Demand for steel pipe slackened as it has been in the traditional off-season. The high temperature in summer and widespread rainy weather both exerted negative impacts on the demand for steel pipe. Continuous strong rains in southern China negatively affected construction activities, weakening the support to steel pipe prices. It is expected that steel pipe prices in the Chinese domestic market will edge down in the coming week.
As of June 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,098/mt ($430/mt), increasing by RMB 5/mt ($0.7/mt) or 0.16 percent since June 18, while decreasing by 0.26 percent compared to the previous trading day, June 24.
$1 = RMB 7.1668
