During the week ending March 25, 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 $505-520/mt FOB, remaining stable on average compared to March 18, while export offers for API 5L seamless pipe given by Chinese suppliers are at $510-520/mt FOB, for June shipment, moving sideways on average compared to March 18.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 515 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 515 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 660 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 512.5 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained unchanged amid the negative impact from the ongoing war in the Middle East. Demand for steel pipes from downstream users has not indicated a significant improvement, weakening support for prices. However, the increasing prices of raw materials, including iron ore, coke and coking coal, have bolstered steel pipe prices from the cost side. Market players still look forward to an improved situation in the coming traditional peak month for business, which may provide support for steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will rebound slightly in the coming week.
As of March 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,313/mt ($480/mt), increasing by RMB 3/mt ($0.4/mt) or 0.09 percent since March 18, while down 0.24 percent compared to the previous trading day, March 24.
$1 = RMB 6.8911
