During the week ending December 3, 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 $460-470/mt FOB, increasing by $10/mt on average compared to November 26, while export offers for API 5L seamless pipe given by Chinese suppliers are at $470-490/mt FOB, February shipment, rising by $5/mt on average compared to November 26.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 480 | +5 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 480 | +5 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 650 | - |
| Welded pipes | Gr.B | 2’’-6’’ Std | 465 | +10 |
During the given week, steel pipe prices in the Chinese domestic market have edged up amid growing expectations for an interest rate cut by the US Federal Reserve. Market players have been seeking to raise their offer prices for steel pipes. However, demand for steel pipes has been slack during the traditional cold winter offseason, which will negatively affect prices. Restocking for the winter season has started to boost market sentiments. It is thought that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of December 3, HRC futures at Shanghai Futures Exchange are standing at RMB 3,319/mt ($469/mt), increasing by RMB 15/mt ($2.1/mt) or 0.45 percent since November 26, while decreasing by 0.18 percent compared to the previous trading day, December 2.
$1 = RMB 7.0754
