Chinese steel pipe export offer prices mostly move sideways

Wednesday, 08 July 2020 17:37:38 (GMT+3)   |   Shanghai
       

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


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