During the week ending July 14, average Chinese steel pipe export offer prices have mostly moved up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $830-860/mt FOB, moving up by $30/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $855-875/mt FOB, September shipment, rising by $20/mt compared to July 7.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
+20 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
925 |
+20 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,150 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
845 |
+30 |
During the given week, steel pipe prices have mostly moved up amid the bullish sentiments among market players due to the increasing trend of ferrous metal futures prices and amid inspections reviewing the elimination of excess capacity. However, demand for steel pipes is still weak, which will exert a negative impact on prices in the near future.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 5,580/mt ($861/mt) on July 14, up RMB 141/mt ($21.8/mt) or 1.6 percent from July 7.
$1 = RMB 6.4806