During the week ending May 13, 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 $520-540/mt FOB, remaining stable on average compared to May 6, while export offers for API 5L seamless pipe given by Chinese suppliers are at $530-540/mt FOB, August shipment, remaining stable on average compared to May 6.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 535 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 535 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 670 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 530 | - |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways. Traders’ high stockpiling costs have bolstered steel pipe prices in the spot market. Meanwhile, firm prices of raw materials, including iron ore and coke, have also provided solid support for steel pipe prices. However, downstream users have been unwilling to conclude purchases at high prices, resulting in prevailing cautious sentiments among market players. It is expected that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of May 13, HRC futures at Shanghai Futures Exchange are standing at RMB 3,481/mt ($509/mt), decreasing by RMB 12/mt ($1.8/mt) or 0.3 percent since May 6, while decreasing by 0.14 percent compared to the previous trading day, May 12.
$1 = RMB 6.8431
