During the week ending January 7, average Chinese steel pipe export offer prices have edged up slightly. At present, export offers for welded pipe given by Chinese suppliers are in the range of $470-480/mt FOB, moving up by $10/mt on average compared to December 31, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-490/mt FOB, March shipment, edging up by $5/mt on average compared to December 31.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 485 | +5 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 485 | +5 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 475 | +10 |
During the given week, steel pipe prices in the Chinese domestic market have increased amid rising HRC futures prices. Meanwhile, the stock market has seen increases following the New Year holiday, bolstering market sentiments. On January 7, both coking coal and coke futures prices indicated big rises of 7.98 percent, which will provide solid support for steel pipe prices from the cost side. However, demand for steel pipes remains slack, which will weaken prices to a certain degree. It is expected that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of January 7, HRC futures at Shanghai Futures Exchange are standing at RMB 3,332/mt ($465/mt), increasing by RMB 62/mt ($2.1/mt) or 1.9 percent since December 31, while increasing by 2.52 percent compared to the previous trading day, January 6.
$1 = RMB 7.0187
