During the week ending August 26, 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 $505-535/mt FOB, November shipment.
|
Product name |
Quality |
Spec. |
Price ($/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 |
During the given week, inventory of steel pipe has been relatively low, bolstering prices. However, ferrous metal futures prices in China have moved down, exerting a negative impact on the steel pipe market. At the same time, the high levels of iron ore prices have provided support for steel pipe prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,726/mt ($540/mt) on August 26, down RMB 68/mt ($9.9/mt) or 1.8 percent from August 19.
$1 = RMB 6.9079