During the week ending August 27, average Chinese steel pipe export offer prices have moved sideways, following the declines seen a week before. At present, export offers for welded pipe given by Chinese suppliers are in the range of $470-480/mt FOB, remaining stable on average compared to August 20, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-500/mt FOB, for November shipment, moving sideways on average compared to August 20.
| Product name | Quality | Spec. | Price ($/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 | 675 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 475 | - |
During the given week, steel pipe prices in the Chinese domestic market have remained stable amid the prevailing cautious sentiments due to the increased suspension of downstream projects in northern China. The strict production halts due to the approach of the military parade in early September have bolstered steel pipe prices to a certain degree. It is thought that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of August 27, HRC futures at Shanghai Futures Exchange are standing at RMB 3,349/mt ($471/mt), decreasing by RMB 53/mt ($7.5/mt) or 1.6 percent since August 20, while declining by 0.92 percent compared to the previous trading day, August 26.
$1 = RMB 7.1108