Most Chinese seamless pipe suppliers have kept their prices unchanged over the past two weeks against a background of slow trading activity in the domestic market due to the National Day holiday (October 1-7) and poor interest from foreign customers amid difficult economic conditions in the main overseas sales markets. Market operators expect Chinese seamless pipe producers will try to keep their prices stable after the holiday, but prices may come under downward pressure amid a forecast downturn in prices for imported iron ore and domestic feedstock material. Besides, with increases in inventories and the approach of the cold winter weather, market demand may shrink further, imposing more difficulties on manufacturers.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 6,100-6,300/mt ($997-1,029/mt) ex-works, including 17 percent VAT. Chinese domestic prices of 2"-6" seamless pipes according to GB/8162-8163 are varying at around RMB 4,900-5,300/mt ($801-866/mt) ex-works. Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are varying at around RMB 4,100-4,300/mt ($670-703/mt) ex-warehouse, including 17 percent VAT.
Current export quotations from most Chinese manufacturers for 2"-12" grade B seamless pipes according to ASTM A106/API 5L are on average at $740-800/mt FOB, while offers from big producers may reach $880-900/mt FOB.
1$=RMB 6.12