During the week ending September 7, 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 $620-650/mt FOB, moving down by $15/mt compared to August 31, while export offers for API 5L seamless pipe given by Chinese suppliers are at $640-680/mt FOB, December shipment, down by $20/mt compared to that on August 31.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
660 |
-20 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
675 |
-15 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
775 |
-25 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
635 |
-15 |
During the given week, demand for steel pipe has been sluggish amid the repeated outbreaks of the Covid-19 pandemic in many regions of China. Though September is regarded as the traditional peak season for business, cautious sentiments have still prevailed among market players. Moreover, rebar futures prices have seen a fluctuating trend, also affecting the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market may move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,673/mt ($532/mt) on September 7, down by RMB 4/mt ($0.6/mt), or 0.1 percent compared to August 31, while down by 0.51 percent compared to the previous trading day, September 6.
$1 = RMB 6.916