During the week ending March 18, 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, demand from downstream users has not been as good as market players had been expecting, resulting in slow consumption of current inventories, and so traders have been unwilling to build up stocks. Meanwhile, the rapid spread and increasingly serious situation regarding the coronavirus worldwide has exerted a negative impact on market players’ sentiments.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,548/mt ($504.5/mt) on March 18, up RMB 51/mt ($7.3/mt) or 1.5 percent from March 11.
$1 = RMB 7.0328