During the week ending November 6, average Chinese steel pipe export offer prices have moved on a stable trend. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $595-680/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $510-530/mt FOB, December shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
637.5 |
0 |
|
Seamless pipe, casing |
J55 |
3’’-8’’ Std |
687.5 |
0 |
|
Seamless Pipe, tubing |
ST37 |
< 3’’ Std |
922.5 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
520 |
0 |
During the given week, though production restriction measures are being implemented in many regions of China, demand in the domestic steel pipe market has not improved significantly. Market players are cautious as regards the future prospects for the steel pipe price trend.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stood at RMB 3,441/mt ($491/mt) on November 6, up RMB 68/mt ($9.7/mt) from October 30, signaling a certain improvement in sentiments due to the People's Bank of China’s medium-term lending facility (MLF) operations, which may positively affect steel prices in the near future despite the approach of the offseason during the cold winter.
$1 = RMB 7.008