During the week ending June 16, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $810-840/mt FOB, moving sideways week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $855-875/mt FOB, July shipment, remaining stable compared to June 9.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
0 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
930 |
0 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,190 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
825 |
0 |
During the given week, steel pipe prices have moved sideways due slack demand during the rainy season in eastern China. Downstream users have been cautious in concluding purchases of steel pipes. Most traders have been willing to sell and are trying to reduce their inventory levels. It is expected that steel pipe prices in the Chinese domestic market will likely remain stable in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 5,035/mt ($783/mt) on June 16, down RMB 21/mt ($3.3/mt) or 0.42 percent from June 9.
$1 = RMB 6.4078
