During the week ending October 21, 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 $515-545/mt FOB, early January shipment.
|
Product name |
Quality |
Spec. |
Price ($/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, inventory levels of steel pipes have been higher than before the recent long holiday, while traders have mostly held a wait-and-see stance towards the future prospect for the market. At the beginning of the given week, steel pipe prices in northern China edged up slightly, stimulating transaction activities, while they moved down later, weakening the support for the market.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,650/mt ($546.6/mt) on October 21, up RMB 32/mt ($4.8/mt) or 0.88 percent from October 14.
$1 = RMB 6.6781