The Spanish seamless pipe market is slowing down coming towards the holiday season, showing little trading activity. According to local sources in Spain, domestic and export quotations of Spanish seamless pipes have declined by around €30-45/mt ($40-60/mt) over the past month under pressure from extremely soft domestic demand and quiet export activity.
Prices offered from China have decreased by €10-30/mt ($13-40/mt) over the past month, while quotations of Ukrainian material have declined by €35-40/mt ($46-53/mt). Quotations of Italian seamless pipes have gone down by about €50/mt ($66/mt) over the period under review.
Market players remain skeptical about sustainable seamless pipe demand recovery in Spain after the holiday as the recession in the EU is increasingly affecting the country's economy. However, Spanish seamless pipe suppliers are not going to decrease their offers given expectations of stronger export demand from the oil and gas sector from the beginning of next year.
Current Spanish domestic prices for 2"-4" hot-formed seamless pipes, grade B made to ASTM A106, are at around €1,000-1,020/mt ($1,326-1,353/mt) ex-works, while 6"-10" pipes are at €1,150-1, 200/mt ($1,525-1,591/mt) ex-works.
Current export prices of Spanish seamless pipes, 2"-4" grade B according to ASTM A106, are varying at around €1,030-1,050/mt ($1,358-1,384/mt) FOB, while 6"-10" seamless pipes are at €1,090-1,150/mt ($1,437-1,516/mt) FOB.
Prices for Chinese seamless pipes, 2"-6" grade B made to ASTM A106/API 5L, are at about €720-790/mt ($955-1,048/mt) CFR Spain from small producers, while the same pipes are offered by bigger manufacturers at around €820-860/mt ($1,087-1,140/mt) CFR Spain, exclusive of antidumping duties (in the range of 17.7-39.2 percent depending on the producer).
Offers of January production Ukrainian seamless pipes with 42-168 mm diameter of 10, 20 steel grade made to GOST 8731/8732 are being given to Spain at €825-870/mt ($1,094-1,153/mt) CPT. Prices are shown exclusive of 12.3-13.8 percent antidumping duty.
Quotations of Italian seamless pipes, 8"-10" grade B made to ASTM A106, to Spain are at €1,130-1,180/mt ($1,498-1,556/mt) CPT.
€1 = $1.326