Despite rising raw material costs, Chinese producers of seamless pipes have not raised their prices because of lack of demand from both local and foreign buyers. Over the past two weeks, most Chinese seamless pipe producers have maintained their domestic and export prices unchanged at previous levels, though export quotations from small producers have moved down by $20-40/mt. Meanwhile, buyers remain careful and prefer to adopt a wait-and-see stance.
Due to the seasonal business downturn, market players do not expect any positive changes in the market in the coming period.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 5,700-5,850/mt ($909-933/mt) ex-works. Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are varying at around RMB 4,300-4,600/mt ($686-734/mt) ex-warehouse, including 17 percent VAT.
Current export offers of seamless pipes from Chinese manufacturers for 2"-8" Sch 40 grade B material according to ASTM A106/API 5L are on average at $880-940/mt FOB. Export quotations of 2"-10" seamless pipes of grade B as per ASTM A106/API 5L from small producers are at around $710-780/mt FOB.