During the week ending March 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 $820-840/mt FOB, moving sideways compared to March 9, while export offers for API 5L seamless pipe given by Chinese suppliers are at $860-890/mt FOB, May shipment, remaining stable compared to March 9.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
875 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
905 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,105 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
830 |
0 |
In the given week, demand from downstream users has gradually recovered, though the worsening of the Covid-19 pandemic in many regions exerted a negative impact on the steel pipe market. Following sharp declines in ferrous metal futures prices previously, prices indicated big rises on March 16, signaling market players’ improved sentiments as the government issued a policy to provide support to the financial markets. It is thought that steel pipe prices may rise slightly in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,904/mt ($768.6/mt) on March 16, down by RMB 3/mt ($0.47/mt), or 0.06 percent compared to March 9, while up by 3.22 percent compared to the previous trading day, March 15.
$1 = RMB 6.38