During the week ending April 1, average Chinese steel pipe export offer prices have edged up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $515-530/mt FOB, rising by $10/mt on average compared to March 25, while export offers for API 5L seamless pipe given by Chinese suppliers are at $520-530/mt FOB, June shipment, moving up by $10/mt on average compared to March 25.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 525 | +10 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 525 | +10 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 665 | +5 |
| Welded pipes | Gr.B | 2’’-6’’ Std | 522.5 | +10 |
During the given week, steel pipe prices in the Chinese domestic market have indicated slight rises amid the support from raw material prices. Demand for steel pipe has improved slowly as the traditional peak season begins, exerting a positive impact on prices. However, inventory consumption has not been as good as market players had expected, weakening the support for prices. The ongoing war in the Middle East has negatively affected the steel pipe market, though firm iron ore prices will likely provide solid support for steel pipe prices. It is expected that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of April 1, HRC futures at Shanghai Futures Exchange are standing at RMB 3,287/mt ($476/mt), decreasing by RMB 26/mt ($3.8/mt) or 0.8 percent since March 25, while down 0.42 percent compared to the previous trading day, March 31.
$1 = RMB 6.9025
