During the week ending May 11, 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 $800-820/mt FOB, edging down by $15/mt compared to April 27, while export offers for API 5L seamless pipe given by Chinese suppliers are at $830-850/mt FOB, July shipment, moving down by $25/mt compared to April 27.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
840 |
-25 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
865 |
-25 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,030 |
-30 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
810 |
-15 |
During the given week, steel pipe prices have moved down amid the ongoing Covid-19 restriction measures, though market players have started to be optimistic as regard the market prospects as the lockdown in Shanghai may be eased. Currently, the inventory levels of steel pipe producers are at low levels, which will provide support for prices. It is thought that steel pipe prices in the Chinese domestic market will edge up in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,681/mt ($695.5/mt) on May 11, down by RMB 183/mt ($27/mt), or 3.76 percent compared to April 27, while up by 1.98 percent compared to the previous trading day, May 10.
$1 = RMB 6.729