Chinese steel pipe export offer prices move down

Wednesday, 27 October 2021 16:55:04 (GMT+3)   |   Shanghai
       

During the week ending October 27, average Chinese steel pipe export offer prices have moved down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $865-895/mt FOB, down $30/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $910-940/mt FOB, December shipment, moving down by $20/mt compared to October 20.

Product name

Quality

Spec.

Price ($/mt) FOB

Weekly change ($/mt)

API 5L seamless pipe

Gr.B

2’’-6’’ Std

925

-20

Seamless pipe, casing (hot rolled forming)

J55

3’’-8’’ Std

975

-25

Seamless pipe, tubing (cold drawn forming)

ST37

< 3’’ Std

1,210

-30

Welded pipes

Gr.B

2’’-6’’ Std

880

-30

During the given week, steel pipe prices have moved down amid continuously declining ferrous metal futures prices and the prevailing bearish sentiments among market players. The demand for steel pipe has slackened, negatively affecting prices. 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 4,655/mt ($728.5/mt) on October 27, down RMB 649/mt ($101.6/mt) or 12.2 percent from October 20.


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