During the week ending July 13, 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 $680-690/mt FOB, decreasing by $20/mt compared to July 6, while export offers for API 5L seamless pipe given by Chinese suppliers are at $710-720/mt FOB, September shipment, moving down by $25/mt compared to July 6.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
715 |
-25 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
735 |
-25 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
855 |
-55 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
685 |
-20 |
During the given week, ex-China steel pipe prices have moved down amid prevailing cautious sentiments. At the same time, the demand for steel pipe has been slack, exerting a negative impact on the market. A wave of hot weather has hit China, negatively affecting the demand for steel pipes. It is thought that steel pipe prices in the Chinese domestic market will likely indicate a declining trend in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,910/mt ($581/mt) on July 13, down by RMB 335/mt ($50/mt), or 7.9 percent compared to July 6, while down by 2.18 percent compared to the previous trading day, July 12.
$1 = RMB 6.7282