During the week ending April 15, 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 $515-530/mt FOB, remaining stable on average compared to April 8, while export offers for API 5L seamless pipe given by Chinese suppliers are at $520-530/mt FOB, for June shipment, moving sideways on average compared to April 8.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 525 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 525 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 665 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 522.5 | - |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways despite fluctuations in ferrous metal futures prices. Steel pipe producers’ outputs have decreased, easing the pressure from the inventory side. However, downstream users have been reluctant to conclude purchases of steel pipe, exerting a negative impact on prices. Since April is another month of the traditional peak season for sales, market players still expect an improvement in demand. It is thought that steel pipe prices in the Chinese domestic market will likely edge up in the coming week.
As of April 15, HRC futures at Shanghai Futures Exchange are standing at RMB 3,290/mt ($480/mt), increasing by RMB 8/mt ($1.2/mt) or 0.24 percent since April 8, while up 0.34 percent compared to the previous trading day, April 14.
$1 = RMB 6.8582
