During the week ending February 11, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $480-490/mt FOB, moving sideways on average compared to February 4, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, March shipment, remaining stable on average compared to February 4.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 495 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 495 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 485 | - |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways as the Chinese New Year holiday (February 14-23) is just around the corner. Downstream users have only been purchasing in line with their needs. Transaction activities will be quiet during the remaining trading days before the holiday and during the holiday. It is expected that steel pipe prices in the Chinese domestic market will continue to move sideways in the coming period.
As of February 11, HRC futures at Shanghai Futures Exchange are standing at RMB 3,228/mt ($464/mt), decreasing by RMB 46/mt ($6.6/mt) or 1.4 percent since February 4, while increasing by 0.06 percent compared to the previous trading day, February 10.
$1 = RMB 6.9438
