During the week ending February 25, average Chinese steel pipe export offer prices have remained unchanged. At present, export offers for welded pipe given by Chinese suppliers are in the range of $480-490/mt FOB, remaining stable on average compared to February 11, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, for May shipment, moving sideways on average compared to February 11.
| Product name | Quality | Spec. | Price ($/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 | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 485 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained stable. Most steel pipe producers have been back to the market, while demand from downstream users may as usual return to normal levels after the Lantern Festival holiday (March 3). Steel pipe prices in the Chinese domestic market will move sideways in the coming week as it will take some time for market demand to recover.
As of February 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,236/mt ($467/mt), rising by RMB 8/mt ($1.2/mt) or 0.25 percent since February 11, while increasing by 1.19 percent compared to the previous trading day, February 24.
$1 = RMB 6.9321