During the week ending November 27, average Chinese steel pipe export offer prices have moved sideways. 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, coke prices have risen as some coke plants in the provinces of Shandong and Hebei have been requested to close down, exerting a positive impact on the steel markets. However, demand for steel pipe has not improved. Against this backdrop, steel pipe prices in China have moved sideways in the given period.
As of November 27, rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,596/mt ($511/mt), down RMB 80/mt ($11.4/mt) from November 20, signaling cautious sentiment among players in the futures market following previous sharp rises.
$1=RMB 7.035