During the week ending May 25, 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 $800-820/mt FOB, moving sideways compared to May 18, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-840/mt FOB, August shipment, remaining stable compared to May 18.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
830 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
855 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,030 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
810 |
0 |
During the given week, steel pipe prices have remained stable amid the slack demand due to the ongoing negative impact from the Covid-19 pandemic. Transportation has been blocked, resulting in rising freight rates, and so market players have been unwilling to conclude purchases of steel pipe. It is thought that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,541/mt ($682.3/mt) on May 18, up by RMB 9/mt ($1.4/mt), or 0.2 percent compared to May 18, while up 0.24 percent compared to the previous trading day, May 24.
$1 = RMB 6.655