During the week ending January 14, 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 $470-480/mt FOB, remaining stable on average compared to January 7, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-490/mt FOB, March shipment, remaining unchanged on average compared to January 7.
| Product name | Quality | Spec. | Price ($/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 | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 475 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained stable amid the impact of the off-season on the market. Demand for steel pipes from downstream users has been slack, causing some traders to consider leaving the market in advance. Since the Chinese New Year holiday is approaching, cautious sentiments have started to be observed in the steel pipe market. Traders have been unwilling to build up stocks, which will weaken the support for steel pipe 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 January 14, HRC futures at Shanghai Futures Exchange are standing at RMB 3,306/mt ($472/mt), decreasing by RMB 26/mt ($3.7/mt) or 0.8 percent since January 7, while decreasing by 0.09 percent compared to the previous trading day, January 13.
$1 = RMB 7.012
