During the week ending November 25, 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 $570-660/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $535-565/mt FOB, early February shipment, remaining stable week on week.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
615 |
0 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
655 |
0 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
885 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
550 |
0 |
During the given week, the rising trend in billet prices has bolstered steel pipe prices, while cold weather has negatively affected demand, especially in northern China. Cautious sentiment has prevailed among market players in the steel pipe market, and so downstream users and traders have been unwilling to build up stocks. It is expected that ex-China steel pipe prices may fluctuate within a limited range in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,865/mt ($588.3/mt) on November 25, down RMB 42/mt ($6.4/mt) or 1.07 percent from November 18.
$1 = RMB 6.5749
