During the week ending March 4, 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 $585-670/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $500-520/mt FOB, April shipment.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
627.5 |
0 |
Seamless pipe, casing |
J55 |
3’’-8’’ Std |
670 |
0 |
Seamless pipe, tubing |
ST37 |
< 3’’ Std |
922.5 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
510 |
0 |
During the given week, though China has taken measures to ensure the resumption of production and construction activities, infrastructure construction activities have not yet resumed to normal levels due to various difficulties, including a labor shortage, lack of epidemic-prevention materials and logistics restraints. Moreover, the coronavirus has spread to more countries, which will negatively affect China’s steel pipe exports.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,477/mt ($496/mt) on March 4, up RMB 30/mt ($4.3/mt) from February 26.
$1 = RMB 7.0126
