During the week ending April 12, average Chinese steel pipe export offer prices have moved on a downtrend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $600-620/mt FOB, falling by $35/mt compared to March 29, while export offers for API 5L seamless pipe given by Chinese suppliers are at $610-640/mt FOB, June shipment, moving down by $30/mt compared to that on March 29.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
625 |
-30 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
635 |
-30 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
695 |
-40 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
610 |
-35 |
During the given week, steel pipe prices in the Chinese domestic market have indicated big decreases amid the prevailing bearish sentiments among market players. Demand for steel pipes has not been as good as market players had expected. At the same time, raw material prices have edged down, weakening the support for steel pipe prices. However, following previous declines in HRC futures prices, they may indicate a rebounding trend in the near future and bolster steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will likely bottom up in the coming week.
As of April 12, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,997/mt ($581/mt), decreasing by RMB 211/mt ($31/mt) or moving down by 5.0 percent since March 29. (the main HRC futures contract has shifted to hc2310)
$1 = RMB 6.8854