During the week ending January 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 $470-480/mt FOB, moving sideways on average compared to January 14, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-490/mt FOB, March shipment, remaining stable on average compared to January 14.
| Product name | Quality | Spec. | Price ($/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 as some producers in northern China have gradually halted production, which reducing supply to the market and bolstering prices to a certain degree. However, a wave of extremely cold weather has hit China, slackening the demand for steel pipes due to the slowdown in downstream construction activities. Some traders have completed stock replenishments ahead of the Chinese New Year holiday, while other traders have held a wait-and-see stance as regards building up stocks. It is expected that steel pipe prices in the Chinese domestic market will continue to move on a stable trend in the coming week.
As of January 21, HRC futures at Shanghai Futures Exchange are standing at RMB 3,286/mt ($469/mt), decreasing by RMB 20/mt ($2.8/mt) or 0.6 percent since January 14, while decreasing by 0.06 percent compared to the previous trading day, January 20.
$1 = RMB 7.0014
