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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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June 2017 | Seamless Steel Tube & Pipe


China waits the awarding of Sinopec & CNOOC OCTG tenders: Asia Market Analysis


Production-wise, major Tier-1 mills in China are busy with CNPC’s annual tender.

Chinese seamless OCTG and linepipe prices were little changed over the past month, though the substrate market rebounded for the most of May, followed by a sharp drop in early June. Steel billet prices in China gained RMB170 (25$/tonne) over May, but lost another RMB200 ($30/tonne) in early June. Offers of J/K55 remained at around $690-710/tonne FOB China this week from Tier 1 mills. Due to slow export bookings and volatile substrate market, Chinese pipe makers were cautious in hiking pipe offers, though prices on the international market have increased.

Production-wise, major Tier-1 mills in China are busy with CNPC’s annual tender. And the market is still waiting for the imminent annual tender from Sinopec and CNOOC. China’s output of seamless OCTG is expected to increase, and this will help to increase total seamless pipe production numbers. April’s total seamless pipe output was estimated at 2.34Mt,...

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