During the week ending June 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 $540-550/mt FOB, remaining stable on average compared to June 17, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, September shipment, moving sideways on average compared to June 17.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 575 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 580 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 680 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 545 | - |
Steel pipe prices in the Chinese domestic market have moved sideways amid the widespread rainy weather in China. Due to the traditional off-season, the demand for steel pipes has been slack, weakening market sentiments. Downstream users have been unwilling to buy steel pipes, resulting in price cuts by sellers, aiming to reduce inventories and avoid potential risks. It is expected that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of June 24, HRC futures at Shanghai Futures Exchange are standing at RMB 3,371/mt ($487.5/mt), decreasing by RMB 46/mt ($6.7/mt) or 1.4 percent since June 17, while declining by 0.03 percent compared to the previous trading day, June 23.
$1 = RMB 6.8195
