During the week ending July 27, average Chinese steel pipe export offer prices have moved down sharply. At present, export offers for welded pipe given by Chinese suppliers are in the range of $640-660/mt FOB, moving down by RMB 35/mt ($5.2/mt) compared to July 20, while export offers for API 5L seamless pipe given by Chinese suppliers are at $660-700/mt FOB, September shipment, down by RMB 35/mt ($5.2/mt) compared to that on July 20.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
680 |
-35 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
690 |
-45 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
800 |
-55 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
650 |
-35 |
During the given week, demand from downstream users has been sluggish amid the negative impact of the Covid-19 pandemic and the traditional offseason. However, rebar futures prices have indicated a rebounding trend, which may bolster steel pipe prices in the near future. It is thought that steel pipe prices may move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,916/mt ($578/mt) on July 27, up by RMB 86/mt ($12.7/mt), or 2.2 percent compared to July 20, while up by 1.69 percent compared to the previous trading day, July 26.
$1 = RMB 6.7731