During the week ending September 23, 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 $515-545/mt FOB, November shipment.
|
Product name |
Quality |
Spec. |
Price ($/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 |
530 |
0 |
During the given week, demand for steel pipes has not been as good as market players expected for the traditional peak season, resulting in cautious sentiments as regards the future market prospects. Meanwhile, iron ore prices have decreased sharply, weakening the support for the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will likely edge down in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,542/mt ($521/mt) on September 23, down RMB 33/mt ($5/mt) or 0.9 percent from September 16.
$1 = RMB 6.7986