After the Tomb-Sweeping holiday (Qingming Festival) in China, domestic seamless pipe prices have seen a slight increase on the back of higher raw material costs. Over the past two weeks, domestic prices of Chinese seamless pipes have increased by around RMB 50/mt ($10/mt), while export quotations have gone up by $10-20/mt. With the approach of the peak consumption season in line with warmer weather, market players believe that the upward price trend may continue in the seamless pipe market supported by stronger billet prices. However, the room for upward movement appears limited as the market remains oversupplied.
Chinese domestic prices of 2"-6" seamless pipes according to GB/8162-8163 are varying at around RMB 5,300-5,400/mt ($840-855/mt) ex-works, including 17 percent VAT. Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 6,250-6,350/mt ($990-1,005/mt) ex-works.
Current export offers of seamless pipes from most Chinese manufacturers for 2"-6" Sch 40 grade B material according to ASTM A106/ASTM A53/API 5L are on average at $860-950/mt FOB, while offers of bigger mills may reach $1,000/mt FOB.
Export quotations for 13 3/8" casing, J55 as per API 5CT, BTC, are at $1,020-1,050/mt FOB, while 2 7/8"-3 1/2" tubing, plain ends, are at around $1,080-1,100/mt FOB.