Business activity remains weak in the Chinese seamless pipe market. Most Chinese suppliers of seamless pipes have stopped raising their domestic and export prices, leaving them unchanged over the past two weeks amid stable feedstock costs and feeble demand. Meanwhile, market players expect to see demand rebound this month. Accordingly, Chinese suppliers are likely to increase their prices in the coming period.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 6,100-6,300/mt ($989-1,022/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 ($795-859/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 ($665-697/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 $750-800/mt FOB, while offers from big producers may reach $880-920/mt FOB.
Export quotations of Chinese 2"-6" seamless pipes of grade B as per ASTM A106 from stocks currently vary in the range of $690-720/mt FOB.