During the week ending September 10, 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 September 3, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, November shipment, moving sideways on average compared to September 3.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 495 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 495 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 675 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 475 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained stable as demand from downstream users has not seen a significant improvement. Since cautious sentiments prevail among market players, they only concluded purchases as needed. However, the hot weather has eased over the past few days, exerting a positive impact on the demand for steel pipes. At the same time, HRC futures prices have risen, bolstering steel pipe prices to a certain degree. It is thought that steel pipe prices in the Chinese domestic market will rebound slightly in the coming week.
As of September 10, HRC futures at Shanghai Futures Exchange are standing at RMB 3,342/mt ($471/mt), increasing by RMB 43/mt ($6.0/mt) or 1.3 percent since September 3, while declining by 0.39 percent compared to the previous trading day, September 9.
$1 = RMB 7.1062
