During the week ending January 19, 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 $820-850/mt FOB, April shipment, moving sideways compared to that recorded on January 12.
|
Product name |
Quality |
Spec. |
Price ($/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 been stable compared to the previous week. Ferrous metal futures prices have moved up in the given week, bolstering steel pipe prices, while the slack demand from downstream users has weakened the support for the steel pipe market. As the Chinese New Year is approaching, transportation will be negatively affected, which will impact the steel pipe market. Moreover, the worsening Covid-19 pandemic in several regions of China will also exert a negative impact on the steel pipe market.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,713/mt ($741/mt) on January 19, up by RMB 81/mt ($12.7/mt), or 1.75 percent compared to January 12, while up 3.02 percent compared to the previous trading day, January 18.
$1 = RMB 6.3624