During the week ending April 20, 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 $830-850/mt FOB, moving sideways compared to April 13, while export offers for API 5L seamless pipe given by Chinese suppliers are at $870-900/mt FOB, July shipment, remaining stable compared to April 13.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
885 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
915 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,105 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
840 |
0 |
During the given week, steel pipe prices have remained stable amid transportation disruptions caused by the Covid-19 pandemic in Shanghai and in surrounding regions. Demand for steel pipe has been slack. However, transaction activities have improved in low-risk areas. Moreover, the People’s Bank of China (PBC) announced it will cut the reserve ratio by 0.25 percentage points as of April 25, bolstering market sentiment. It is expected that steel pipe prices will rise slightly in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 5,106/mt ($798/mt) on April 20, up by RMB 191/mt ($30/mt), or 3.9 percent compared to April 13, while up by 0.79 percent compared to the previous trading day, April 19.
$1 = RMB 6.3996