During the week ending June 22, 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 $720-730/mt FOB, moving down by $60/mt compared to June 15, while export offers for API 5L seamless pipe given by Chinese suppliers are at $750-770/mt FOB, August shipment, down $50/mt compared to June 15.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
760 |
-50 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
780 |
-50 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
910 |
-65 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
725 |
-60 |
During the given week, ex-China steel pipe prices have indicated big declines amid decreasing rebar futures prices and the prevailing bearish sentiments among market players. In the traditional summer offseason, rainfall and high temperatures have exerted a negative impact on the demand for steel pipe. Meanwhile, inventory levels of steel pipes have increased, negatively affecting the market. Currently, more steel pipe producers plan to implement maintenance. It is thought that steel pipe prices in the Chinese domestic market will edge down in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,128/mt ($615/mt) on June 22, down by RMB 419/mt ($62.4/mt) or 9.2 percent compared to June 15, while down by 1.41 percent compared to the previous trading day, June 21.
$1 = RMB 6.7109