During the week ending May 18, average Chinese steel pipe export offer prices have fluctuated within a limited range. At present, export offers for welded pipe given by Chinese suppliers are in the range of $800-820/mt FOB, moving sideways compared to May 11, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-840/mt FOB, August shipment, moving down by $10/mt compared to May 11.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
830 |
-10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
855 |
-10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,030 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
810 |
0 |
During the given week, steel pipe prices have moved on a fluctuating trend as ongoing Covid-19 restriction measures affected market sentiment. At the same time, the demand for steel pipe has remained slack, exerting a negative impact on prices. Moreover, coke prices have moved down, weakening the support for steel pipe prices from the cost side. It is thought that steel pipe prices in the Chinese domestic market will likely move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,532/mt ($672.4/mt) on May 18, down by RMB 149/mt ($22/mt), or 3.2 percent compared to May 11, while down by 2.87 percent compared to the previous trading day, May 17.
$1=RMB 6.7421