During the week ending September 28, 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 $590-620/mt FOB, remaining stable compared to September 21, while export offers for API 5L seamless pipe given by Chinese suppliers are at $620-650/mt FOB, December shipment, moving down by $25/mt compared to that on September 21.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
635 |
-25 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
650 |
-25 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
735 |
-40 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
605 |
-30 |
During the given week, steel pipe prices have moved down against the backdrop of the interest rate hike by the US Federal Reserve. However, market players are mostly holding a wait-and-see stance. The repeated outbreaks of the Covid-19 pandemic in some regions of China have resulted in lockdowns and control measures, which have reduced demand for steel pipes. It is expected that steel pipe prices will move down in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,823/mt ($538/mt) on September 28, up by RMB 159/mt ($22.4/mt), or 4.3 percent compared to September 21, while up by 0.29 percent compared to the previous trading day, September 27.
$1 = RMB 7.1107