China's domestic prices for seamless pipes have stayed almost unchanged over the past three weeks with trading activity remaining lackluster during and after the New Year holiday. Only traders from Tianjin and Beijing have cut their offers by RMB 50-100/mt ($8-16/mt) over the period under review. China's seamless pipe export activity has been quiet over the past three weeks following the central government's removal of the 9-13 percent export tax rebate on boron-added steel products, but also due to the holiday lull in key market outlets. Chinese seamless pipe producers are not optimistic about the prospects for the domestic market in the coming period, considering the unpromising situation in the construction industry and the approaching Chinese Lunar New Year holiday, while most participants in China's seamless pipe export market prefer to maintain a cautious stance in the wake of the removal of the tax rebate.
Domestic prices of 4"-8" seamless pipes according to GB/8162-8163 are varying at around RMB 3,900-4,300/mt ($628-692/mt) ex-works, including 17 percent VAT.
Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are at around RMB 3,300-3,600/mt ($531-580/mt) ex-warehouse, including 17 percent VAT, while traders in Tianjin and Beijing are offering the same pipes at around RMB 3,200-3,450/mt ($515-556/mt) ex-warehouse.
Current export quotations from most Chinese manufacturers for 2"-6" Sch40 grade B seamless pipes according to ASTM A106/API 5L are on average at $550-580/mt FOB.
$1 = RMB 6.21