During the week ending November 1, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-550/mt FOB, moving sideways compared to October 25, while export offers for API 5L seamless pipe given by Chinese suppliers are at $550-570/mt FOB, December shipment, remaining stable compared to that on October 25.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
560 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
560 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
660 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
545 |
- |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways amid improved sentiments among market players due to China’s issuance of additional special bonds worth RMB 1 trillion for 2023 in the October-December period. HRC futures prices have seen a rising trend, which has exerted a positive impact on steel pipe prices. However, sales activities in the steel pipe market have been slack, weakening the support for prices. It is expected that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of November 1, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,865/mt ($538/mt), increasing by RMB 71/mt ($9.9/mt) or up by 1.9 percent since October 25.
$1 = RMB 7.1778