During the week ending June 14, average Chinese steel pipe export offer prices have edged up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-550/mt FOB, increasing by $10/mt compared to June 7, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-580/mt FOB, July shipment, moving up by $10/mt compared to that on June 7.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
570 |
+10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
570 |
+10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
630 |
+10 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
545 |
+10 |
During the given week, average steel pipe prices in the Chinese domestic market have increased amid rising iron ore prices and increasing ferrous metal futures prices. However, as the rainy season is approaching, demand for steel pipes is expected to be slack, which will exert a negative impact on market sentiment. As a result, downstream users may be unwilling to build up high stocks. 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 June 14, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,847/mt ($537.3/mt), increasing by RMB 126/mt ($17.6/mt) or up by 3.4 percent since June 7.
$1 = RMB 7.1566