During the week ending November 8, 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 $540-550/mt FOB, moving sideways compared to November 1, while export offers for API 5L seamless pipe given by Chinese suppliers are at $550-570/mt FOB, January shipment, remaining stable compared to November 1.
|
Product name |
Quality |
Spec. |
Price ($/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 remained stable amid the announcement of stimulus policies, which have resulted in increasing ferrous metal futures prices and prevailing bullish sentiments among market players. However, downstream users have been unwilling to accept price rises. Most traders have started to worry about the future price movements as the winter season is approaching. Import iron ore prices have moved up firmly, providing support for steel pipe prices from the cost side. It is thought that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of November 8, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,940/mt ($549/mt), increasing by RMB 75/mt ($10.5/mt) or up by 1.9 percent since November 1.
$1 = RMB 7.1773