During the week ending March 1, average Chinese steel pipe export offer prices have continued their uptrend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $650-680/mt FOB, rising by $10/mt compared to February 22, while export offers for API 5L seamless pipe given by Chinese suppliers are at $650-690/mt FOB, May shipment, increasing by $10/mt compared to that on February 22.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
670 |
+10 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
680 |
+10 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
755 |
+15 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
665 |
+10 |
During the given week, steel pipe prices in the Chinese domestic market have edged up amid the declining inventory levels and increasing capacity utilization rates on the steel pipe producers’ side. Market players have been optimistic towards the future steel pipe market prospects, though they are waiting for a further improvement in demand from downstream users. Raw material prices have fluctuated within a limited range at high levels, providing support for steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will edge up in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,216/mt ($607.5/mt) on March 1, down by RMB 21/mt ($3/mt), or 0.5 percent compared to February 22, while up by 1.1 percent compared to the previous trading day, February 28.
$1 = RMB 6.94