During the week ending September 23, average Chinese steel pipe export offer prices have been moving sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $560-580/mt FOB, remaining stable on average compared to September 16, while export offers for API 5L seamless pipe given by Chinese suppliers are at $600-610/mt FOB, November shipment, remaining unchanged on average compared to September 16.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2''-6'' Std | 605 | - |
| Seamless pipe, casing (hot rolled forming) | J55 | 3''-8'' Std | 610 | - |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3'' Std | 720 | - |
| Welded pipes | Gr.B | 2''-6'' Std | 570 | - |
Construction activities in overseas markets have generally been quiet in the traditional off-season, with foreign buyers only concluding purchases as needed, exerting a negative impact on steel pipe prices. Nevertheless, large-diameter welded pipe transactions have continued in Central Asia, lending some support to regional exports and partially counterbalancing weak demand elsewhere. As antidumping duties persist across multiple countries and quotas have tightened further, export compliance costs have been rising, making pipe mills cautious about receiving orders.
During the given week, steel pipe prices in the Chinese domestic market have fluctuated within a limited range. Since the peak Golden September season is almost over, demand from downstream users has fallen short of expectations, resulting in sluggish sentiments among market players, while steel pipe prices lack a clear directional driver. HRC futures prices have edged down, negatively affecting the steel pipe market. Steel pipe producers have chosen to keep their offer prices stable, bolstering steel pipe prices in the spot market to a certain degree. As the Mid-Autumn Day (September 25-27) and the National Day holiday (October 1-7) are approaching, distributors may largely focus on destocking and bringing in cash. Pre-holiday restocking activity has been modest, and downstream procurement continues to remain sluggish. It is thought that steel pipe prices in the Chinese domestic market will likely move sideways in the coming week.
As of September 23, HRC futures at Shanghai Futures Exchange are standing at RMB 3,301/mt ($489/mt), decreasing by RMB 22/mt ($3.3/mt) or 0.7 percent since September 16, while down 0.18 percent compared to the previous trading day, September 22.
$1 = RMB 6.7468
