During the week ending October 26, average Chinese steel pipe export offer prices have moved down sharply. At present, export offers for welded pipe given by Chinese suppliers are in the range of $560-570/mt FOB, moving down by $40/mt compared to October 19, while export offers for API 5L seamless pipe given by Chinese suppliers are at $580-600/mt FOB, December shipment, moving down by $45/mt compared to that on October 19.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
590 |
-45 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
600 |
-50 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
680 |
-55 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
565 |
-40 |
During the given week, steel pipe prices have declined significantly amid the continuous decreasing trend in rebar futures prices. The demand for steel pipes has been slack due to repeated outbreaks of the Covid-19 pandemic, which have negatively affected transportation. Currently, cautious sentiment prevails among market players, which will exert a negative impact on the steel pipe market. It is expected that steel pipe prices may fluctuate within a limited range in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,580/mt ($500/mt) on October 26, down by RMB 67/mt ($9.4/mt), or 1.84 percent compared to October 19, while down by 0.08 percent compared to the previous trading day, October 25.
$1 = RMB 7.1638