During the week ending January 28, average Chinese steel pipe export offer prices have moved up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $480-490/mt FOB, moving up by $10/mt on average compared to January 21, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, for March shipment, rising by $10/mt on average compared to January 21.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 495 | +10 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 495 | +10 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | 0 |
| Welded pipes | Gr.B | 2’’-6’’ Std | 485 | +10 |
During the given week, steel pipe prices in the Chinese domestic market have fluctuated within a limited range. Since the Chinese New Year holiday (February 14-23) is approaching, some traders have left the market, resulting in a weak situation both in demand and supply. Commodity prices have seen big rises, bolstering market sentiments in the steel pipe market. Inventories of steel pipe are expected to see gradual rises, which will negatively affect prices. It is thought that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of January 28, HRC futures at Shanghai Futures Exchange are standing at RMB 3,280/mt ($475/mt), decreasing by RMB 6/mt ($0.9/mt) or 0.18 percent since January 21, while decreasing by 0.39 percent compared to the previous trading day, January 27.
$1 = RMB 6.9755
