During the week ending September 3, average Chinese steel pipe export offer prices have remained stable. 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 August 27, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, November shipment, remaining unchanged on average compared to August 27.
| Product name | Quality | Spec. | Price ($/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 moved sideways amid the prevailing cautious sentiments among market players. Though September is the traditional peak-season, the demand from downstream users has not seen any improvement yet, which will affect steel pipe prices. Some steel pipe producers will implement production cuts in early September, which will bolster prices. It is expected that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of September 3, HRC futures at Shanghai Futures Exchange are standing at RMB 3,299/mt ($474.6/mt), decreasing by RMB 50/mt ($7.0/mt) or 1.5 percent since August 27, while declining by 0.09 percent compared to the previous trading day, September 2.
$1 = RMB 7.1108
