The Chinese seamless pipe market has continued to be plagued by weak sentiment over the past two weeks. China's spot seamless pipe prices have been stable over the past two weeks, while mills' domestic offers have weakened by a maximum of RMB 100/mt ($27/mt) amid scarce buying activity and cautious sentiment. China's seamless pipe export market has also remained sluggish, with prices holding steady. The seamless pipe market in China is unlikely to recover in the short run as sentiment remains fragile amid the weaker economic environment.
Domestic prices of seamless pipes, 2"-8" grade B as per ASTM A106/API 5L, are at around RMB 6,100-6,200/mt ($995-1,012/mt) ex-works, including 17 percent VAT. Chinese domestic prices of 2"-6" seamless pipes according to GB/8162-8163 are varying at around RMB 5,000-5,200/mt ($816-848/mt) ex-works. Chinese ex-stock prices for 2"-8" seamless pipes according to GB/8162-8163 in Shanghai are at around RMB 4,050-4,200/mt ($661-685/mt) ex-warehouse, including 17 percent VAT.
Current export quotations from most Chinese manufacturers for 2"-12" grade B seamless pipes according to ASTM A106/API 5L are on average at $730-780/mt FOB, while offers from big producers have remained at levels of $850-870/mt FOB.
Export prices for 7"-9 5/8" casing pipes of J55 strength grade, as per API 5CT, plain ends, are at about $850-900/mt FOB, while 2 7/8"-3 1/2" tubing, plain ends, are at around $900-950/mt FOB.