During the week ending May 27, average Chinese steel pipe export offer prices have moved up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $530-550/mt FOB, increasing by $15/mt on average compared to May 20, while export offers for API 5L seamless pipe given by Chinese suppliers are at $550-560/mt FOB, August shipment, moving up by $20/mt on average compared to May 20.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
555 |
+20 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
555 |
+20 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
670 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
540 |
+15 |
During the given week, steel pipe prices in the Chinese domestic market indicated rises amid the increasing inquiries from the Middle East. However, buyers have been cautious in concluding purchases as they worried about the fluctuating gas prices and the potential shock from geographical conflicts on transportation. Semi-finished steel prices have moved up, exerting a positive impact on steel pipe prices. Meanwhile, part of steel pipe producers has implemented maintenances, resulting in tight supply to the market, bolstering its prices to a certain degree. It is expected that steel pipe prices in the Chinese domestic market might edge up in the coming week due to the tight supply.
As of May 27, HRC futures at Shanghai Futures Exchange are standing at RMB 3,363/mt ($492/mt), decreasing by RMB 55/mt ($8.1/mt) or 1.6 percent since May 20, while decreasing by 0.50 percent compared to the previous trading day, May 26.
$1 = RMB 6.8291
