During the week ending June 17, average Chinese steel pipe export offer prices have remained stable. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $560-650/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $480-495/mt FOB, August shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
645 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
865 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
487.5 |
0 |
During the given week, the rainy weather in eastern and southern China has negatively affected demand for steel pipes and also weakened expectations for the future price trend. However, iron ore prices have moved at high levels, providing support for steel pipe prices from the cost side.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,585/mt ($506/mt) on June 17, down RMB 2/mt ($0.3/mt) or 0.06 percent from June 10.
$1 = RMB 7.0873