Chinese steel pipe export offer prices edge down

Wednesday, 01 December 2021 16:54:26 (GMT+3)   |   Shanghai
       

During the week ending December 1, average Chinese steel pipe export offer prices have moved down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $780-800/mt FOB, moving down by $20/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-850/mt FOB, February shipment, edging down by $40/mt compared to November 24. 

Product name

Quality

Spec.

Price ($/mt) FOB

Weekly change ($/mt)

API 5L seamless pipe

Gr.B

2’’-6’’ Std

835

-40

Seamless pipe, casing (hot rolled forming)

J55

3’’-8’’ Std

875

-40

Seamless pipe, tubing (cold drawn forming)

ST37

< 3’’ Std

1,075

-55

Welded pipes

Gr.B

2’’-6’’ Std

790

-20

During the given week, steel pipe prices have edged down as traders and steelmakers have been seeking to sell at lower prices, aiming to bring in cash and ease financial tightness by the end of month. The stricter environmental protection measures exerted a negative impact on transportation, which reduced supply of steel pipes, which may provide support for prices in the near future.

Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,306/mt ($676/mt) on December 1, up by RMB 67/mt ($10.5/mt), or 1.6 percent compared to that recorded on November 24, while up 3.98 percent compared to the previous trading day, November 30.

$1 = RMB 6.3693


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