During the week ending December 9, average Chinese steel pipe export offer prices have moved up sharply. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $625-715/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $610-630/mt FOB, early February shipment. They have added around $55-70/mt from last week as the input costs surged.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
670 |
+55 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
717.5 |
+72.5 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
952.5 |
+87.5 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
620 |
+70 |
During the given week, surging prices of iron ore and round billet, increasing prices of HRC and the appreciation of the Chinese currency pushed up ex-China steel pipe prices. Suppliers have been willing to increase their offer prices for steel pipe as rising raw material prices have impacted their profits. However, buyers have been reluctant to conclude purchases at high price levels, though they have been active in inquiries as they look forward to a downward correction in steel pipe prices. It is thought that steel pipe prices will move sideways in the coming period.
As of December 9, rebar futures prices at Shanghai Futures Exchange (SHFE) were at RMB 3,989/mt ($611/mt), up RMB 76/mt ($11.6/mt) or 1.94 percent from December 2.
$1 = RMB 6.5311
