During the week ending March 18, average Chinese steel pipe export offer prices have moved up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $505-520/mt FOB, increasing by $12.5/mt on average compared to March 11, while export offers for API 5L seamless pipe given by Chinese suppliers are at $510-520/mt FOB, June shipment, rising by $10/mt on average compared to March 11.
| Product name | Quality | Spec. | Price ($/mt) FOB | Weekly change ($/mt) |
| API 5L seamless pipe | Gr.B | 2’’-6’’ Std | 515 | +10 |
| Seamless pipe, casing (hot rolled forming) | J55 | 3’’-8’’ Std | 515 | +10 |
| Seamless pipe, tubing (cold drawn forming) | ST37 | < 3’’ Std | 660 | +10 |
| Welded pipes | Gr.B | 2’’-6’’ Std | 512.5 | +12.5 |
During the given week, steel pipe prices in the Chinese domestic market have moved up as the demand from downstream users gradually improved since early March. The rising iron ore prices amid the shrinking supply bolstered steel pipe prices from cost side. However, the ongoing geopolitical conflicts in the Middle East exerted a negative impact on steel pipe exports. Currently, the inventory of steel pipe has been at relatively high level, which may curb the price increase in the near future. It is expected that steel pipe prices in the Chinese domestic market will see slight rises in the coming week.
As of March 18, HRC futures at Shanghai Futures Exchange are standing at RMB 3,310/mt ($480/mt), increasing by RMB 41/mt ($5.9/mt) or 1.3 percent since March 11, while up 0.21 percent compared to the previous trading day, March 17.
$1 = RMB 6.8917
