During the week ending May 17, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $560-570/mt FOB, remaining unchanged compared to May 10, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, July shipment, moving sideways compared to May 10.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
575 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
575 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
640 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
565 |
- |
During the given week, average steel pipe prices in the Chinese domestic market have moved sideways amid the slack demand from downstream users. Coke prices have edged down further, easing the pressure from the cost side, and so steel pipe producers have been more willing to produce, while the increasing supply of steel pipes may exert a negative impact on pipe prices. 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 May 17, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,775/mt ($541/mt), rising by RMB 15/mt ($2.2/mt) or up by 0.4 percent since May 10.
$1 = RMB 6.9748