During the week ending July 12, average Chinese steel pipe export offer prices have edged down slightly. At present, export offers for welded pipe given by Chinese suppliers are in the range of $520-540/mt FOB, moving down by $15/mt compared to July 5, while export offers for API 5L seamless pipe given by Chinese suppliers are at $550-570/mt FOB, August shipment, edging down by $10/mt compared to that on July 5.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
560 |
-10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
560 |
-10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
630 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
530 |
-15 |
During the given week, average steel pipe prices in the Chinese domestic market have moved down amid the slack demand from downstream users. The extremely hot weather slowed down construction activities in China, exerting a negative impact on the demand for steel pipe and weakening the support to prices. Cautious sentiments prevailed among market players amid the increasing production of steel pipe. It is thought that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of July 12, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,819/mt ($532/mt), decreasing by RMB 32/mt ($4.5/mt) or down by 0.83 percent since July 5.
$1 = RMB 7.1765