During the week ending June 29, average Chinese steel pipe export offer prices have edged down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $700-710/mt FOB, edging down by $20/mt compared to June 22, while export offers for API 5L seamless pipe given by Chinese suppliers are at $730-750/mt FOB, September shipment, down $20/mt compared to that on June 22.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
740 |
-20 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
760 |
-20 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
910 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
705 |
-20 |
During the given week, ex-China steel pipe prices have seen some decreases amid hot and rainy weather conditions. Summer is the traditional offseason for demand for steel. Traders mostly hold a wait-and-see stance towards the prospects for the future market. Steel pipe producers have reduced capacity utilization rates given the sluggishness of the market. It is thought that steel pipe prices in the Chinese domestic market will likely move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,360/mt ($651/mt) on June 29, up by RMB 232/mt ($35/mt), or 5.6 percent compared to June 22, while up by 1.51 percent compared to the previous trading day, June 28.
$1 = RMB 6.7035