Seamless pipe prices in China have continued their downward trend amid insufficient downstream demand, which is not expected to improve in the short term. Over the past two weeks, domestic prices of Chinese seamless pipes have decreased by around RMB 100/mt ($18/mt) due to the seasonal lull in summer and the weakening of round billet prices, while export quotations have declined by a maximum of $25/mt. Market insiders express a cautious attitude and think that seamless pipe prices may decline further as transactions remain scarce.
Chinese domestic prices of 2"-6" seamless pipes according to GB/8162-8163 are varying at around RMB 5,100-5,200/mt ($804-820/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 ($962-993/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 $815-875/mt FOB, while quotations of 1/2"-3/4" pipes are at $960-1,060/mt FOB. Export quotations of 2"-6" seamless pipes of premium quality from stocks are at about $750-760/mt FOB. Export offers of 24" Sch 40 seamless pipes of grade B as per ASTM A106 are at around $900-950/mt FOB, while prices of 24" Sch 40 seamless pipes of grade 6 as per ASTM A333 are at about $950-1,000/mt FOB.
Export quotations for 13 3/8" casing, J55 as per API 5CT, BTC, are at $1,000-1,030/mt FOB, while 2 7/8"-3 1/2" tubing, plain ends, are at around $1,050-1,080/mt FOB.