During the week ending December 24, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $460-470/mt FOB, remaining stable on average compared to December 17, while export offers for API 5L seamless pipe given by Chinese suppliers are at $470-490/mt FOB, February shipment, remaining unchanged on average compared to December 17.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 480 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 480 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 465 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained stable amid the increasing HRC futures prices. Meanwhile, coke prices have decreased, weakening the support to steel pipe prices from cost side. Demand for steel pipe has been sluggish during the traditional cold winter offseason, which will exert a negative impact on its prices. Cautious sentiments prevailed among market players, which might negatively affect steel pipe market. It is expected that steel pipe prices in the Chinese domestic market will soften in the coming week.
As of December 24, HRC futures at Shanghai Futures Exchange are standing at RMB 3,285/mt ($466/mt), increasing by RMB 40/mt ($5.7/mt) or 1.2 percent since December 17, while increasing by 0.09 percent compared to the previous trading day, December 23.
$1 = RMB 7.0471
