During the week ending July 8, average Chinese steel pipe export offer prices have mostly moved sideways. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $560-650/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $505-535/mt FOB, August shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
645 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
865 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
520 |
+32.5 |
During the given week, rainy weather and floods in China have curbed demand for steel pipes amid the traditional offseason. Meanwhile, the high levels of iron ore prices have bolstered steel pipe prices, though steel pipe producers’ profit margins have shrunk. However, welded pipe prices have edged up amid the rising trend of hot rolled steel strip prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,702/mt ($527.3/mt) on July 8, up RMB 136/mt ($19.4/mt) or 3.8 percent from July 1.
$1 = RMB 7.0207