During the week ending January 8, 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 $510-530/mt FOB, March shipment.
|
Product name |
Quality |
Spec. |
Price ($/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, demand for steel pipe slackened against the backdrop of the New Year holiday, weakening the support for steel pipe prices.
Meanwhile, approaching the Chinese New Year holiday, demand will slacken further. At the same time, traders have been inactive in building up stocks ahead of the holiday. However, steel pipe producers’ production has been negatively affected, which will result in reduced supply to the market and bolster steel pipe prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,617/mt ($520.8/mt) on January 8, up RMB 132/mt ($19.0/mt) from December 25.
$1 = RMB 6.945