During the week ending July 26, 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 $550-560/mt FOB, increasing by $25/mt compared to July 19, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB for August shipment, moving up by $15/mt compared to July 19.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
575 |
+15 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
575 |
+15 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
640 |
+10 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
555 |
+25 |
During the given week, average steel pipe prices in the Chinese domestic market have moved on an uptrend amid rising coke and iron ore prices. Meanwhile, ferrous metal futures prices have indicated continuous rises, exerting a positive impact on steel pipe prices. Moreover, China has implemented a raft of policy measures to promote the transformation and upgrading of villages inside megacities, positively affecting market sentiments. It is expected that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of July 26, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,051/mt ($568/mt), increasing by RMB 208/mt ($29.2/mt) or up by 5.4 percent since July 19.
$1 = RMB 7.1295