During the week ending May 6, 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 $520-540/mt FOB, up $7.5/mt on average compared to April 29, while export offers for API 5L seamless pipe given by Chinese suppliers are at $530-540/mt FOB, for August shipment, moving up by $10/mt on average compared to April 29.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 535 | +10 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 535 | +10 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 670 | +5 |
| Welded pipes | Gr.B | 2’’-6’’ Std | 530 | +7.5 |
During the given week, steel pipe prices in the Chinese domestic market have increased amid support from increasing raw material prices. Lately, downstream users have replenished stocks, exerting a positive impact on the steel pipe market. Meanwhile, due to the ongoing war in the Middle East, supply from Iran has been disrupted, prompting overseas buyers to shift their purchases to China, which has bolstered finished steel prices firmly. Moreover, international oil prices have surged from $60 per barrel to over $100/mt per barrel, directly accelerating oil and gas exploration and development activities, creating a favorable outlook for demand for API 5L line pipes. It is thought that steel pipe prices in the Chinese domestic market will move on an upward trend in the coming week.
As of May 6, HRC futures at Shanghai Futures Exchange are standing at RMB 3,493/mt ($509/mt), increasing by RMB 115/mt ($17/mt) or 3.4 percent since April 28, while rising by 2.34 percent compared to the previous trading day, April 30.
$1 = RMB 6.8562
