The Chinese seamless pipe market remains sluggish due to a lack of demand from both local and foreign buyers. Market participants are in general maintaining a wait-and-see stance. Moderate demand and stabilized prices for raw materials have prevented seamless pipe offers from rising. Export prices of Chinese seamless pipes have mostly stayed in the previous range, dropping by $20/mt only in some cases, while domestic quotations have not been revised over the past two weeks. Market players believe that in the current market situation it may be difficult for seamless pipe prices to move up, but they expect to see a clearer price trend during the month of March.
Chinese domestic prices of 2"-6" seamless pipes according to GB/8162-8163 are varying at around RMB 5,000-5,300/mt ($790-840/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 6,100-6,300/mt ($970-1,000/mt) ex-works.
Current export offers of hot rolled 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 $830-900/mt FOB, while offers of cold rolled seamless pipes are at about $880-950/mt FOB. However, offers of the same hot rolled seamless pipes from first tier pipe mills are standing at $870-960/mt FOB.
Export quotations for 13 3/8" casing, J55 as per API 5CT, BTC, are at $1,000-1,050/mt FOB, while 2 7/8"-3 1/2" tubing, plain ends, are at around $1,050-1,100/mt FOB.