During the week ending July 29, 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 $560-650/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $505-535/mt FOB, October shipment.
|
Product name |
Quality |
Spec. |
Price ($/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 |
520 |
0 |
In Chinese domestic market, the traditional offseason amid high temperature and floods negatively affected the demand for steel pipe, while high level of billet prices bolstered its prices and thereby traders have been unwilling to lower prices for steel pipe.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,766/mt ($539/mt) on July 29, down RMB 16/mt ($2.3/mt) or 0.4 percent from July 22.
$1 = RMB 6.9969