During the week ending December 16, average Chinese steel pipe export offer prices have edged up further. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $640-730/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $620-650/mt FOB, early February shipment, both up $15/mt week on week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
685 |
+15 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
735 |
+17.5 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
970 |
+17.5 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
635 |
+15 |
During the given week, steel pipe prices have moved on an overall uptrend amid rising raw material prices, while market players have mostly held a wait-and-see stance as regards purchases at the current high prices. However, iron ore prices have continued their rising trend, which will bolster steel pipe prices. It is thought that steel pipe prices will likely fluctuate within a limited range in the coming period.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,148/mt ($635/mt) on December 16, up RMB 159/mt ($24.3/mt) or 3.99 percent from December 9.
$1 = RMB 6.5355