During the week ending March 25, 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 $500-520/mt FOB, late May shipment.
|
Product name |
Quality |
Spec. |
Price ($/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, most downstream industries have resumed construction activities in the local market amid effective control of the coronavirus. Steel pipe producers and traders said transaction activities have been better than in the previous week, signaling better demand, and that this situation will likely continue. However, the worsening situation of the coronavirus worldwide has exerted a negative impact on steel pipe exports.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,463/mt ($489.5/mt) on March 25, up RMB 85/mt ($12/mt) or 2.4 percent from March 18.
$1 = RMB 7.0742