During the week ending March 31, average Chinese export offer prices have mostly moved sideways in the seamless pipe segment, while they have increased in the welded pipe market. At present, export offers for welded pipe given by Chinese suppliers are in the range of $740-760/mt FOB, up $35/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-910/mt FOB, June shipment, moving sideways compared to that recorded on March 24.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
920 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,180 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
750 |
+35 |
During the given week, buyers have mostly held a wait-and-see stance as regards purchases of steel pipe, resulting in slight rises in inventory levels. At the same time, welded pipe prices have indicated big rises, while buyers have been unwilling to accept the higher levels, though traders have been active in the market. The rising futures prices and surging local HRC prices have provided support for steel pipe prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,935/mt ($751/mt) on March 31, up RMB 119/mt ($18.1/mt) or 2.47 percent from March 24.
$1 = RMB 6.5713