During the week ending March 11, average Chinese steel pipe export offer prices have edged up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $495-505/mt FOB, increasing by $10/mt on average compared to March 4, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-510/mt FOB, May shipment, remaining stable on average compared to March 4.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 505 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 505 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 500 | +10 |
During the given week, steel pipe prices in the Chinese domestic market have edged up slightly amid slowly improving demand from downstream users. The turbulent international situation has negatively affected market sentiments. Following the Chinese New Year holiday, downstream users’ construction activities improved significantly, boosting the longer-term demand prospects for steel pipes. It is thought that steel pipe prices in the Chinese domestic market will edge up slightly in the coming week.
As of March 11, HRC futures at Shanghai Futures Exchange are standing at RMB 3,269/mt ($467/mt), increasing by RMB 57/mt ($8.3/mt) or 1.8 percent since March 4, while up 0.28 percent compared to the previous trading day, March 10.
$1 = RMB 6.8917
