During the week ending January 5, 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 $780-800/mt FOB, remaining stable week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-850/mt FOB, March shipment, moving sideways compared to December 29.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
835 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
875 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,075 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
790 |
0 |
During the given week, steel pipe prices have remained stable amid the negative impacts of the cold weather and the worsening Covid-19 pandemic in some regions of China. Demand for steel pipes has been slack, while downstream users have been unwilling to build up stocks at the current price levels. It is expected that steel pipe prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,444/mt ($697/mt) on January 5, up by RMB 129/mt ($20.2/mt), or 3.0 percent compared to December 29, while up 2.09 percent compared to the previous trading day, January 4.
$1 = RMB 6.3779