During the week ending May 26, average Chinese steel pipe export offer prices have moved down sharply following previous declines. At present, export offers for welded pipe given by Chinese suppliers are in the range of $790-810/mt FOB, moving down by $145/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $840-860/mt FOB, July shipment, edging down by $150/mt compared to May 19.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
850 |
-150 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
910 |
-165 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,160 |
-190 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
800 |
-145 |
During the given week, steel pipe prices have moved down sharply due to slack demand amid declining ferrous metal futures prices. Meanwhile, bearish sentiment has prevailed among market players. Following the big decreases in prices, buyers have been unwilling to conclude purchases.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,667/mt ($728/mt) on May 26, down RMB 642/mt ($100/mt) or 12.1 percent from May 19.
$1 = RMB 6.4099
