Demand for Chinese seamless pipes remains slack in the domestic and foreign markets amid seasonal factors and economic sluggishness. Over the past three weeks, domestic prices of Chinese seamless pipes have decreased by around RMB 100-200/mt ($14-29/mt), while export quotations have declined by $10-25/mt. It appears difficult for seamless pipe prices in China to emerge from their weak trend in the short term amid oversupply, soft demand in the off-season and uncertainty in the global economy.
Chinese domestic prices of 2"-6" seamless pipes according to GB/8162-8163 are varying at around RMB 5,100-5,200/mt ($806-822/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 6,000-6,100/mt ($948-964/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 $820-850/mt FOB, while quotations of 1/2"-3/4" pipes are at $970-1,000/mt FOB. Export quotations of 2"-6" seamless pipes of premium quality from stocks are at about $740-760/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.