During the week ending July 6, 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 $700-710/mt FOB, remaining stable compared to June 29, while export offers for API 5L seamless pipe given by Chinese suppliers are at $730-750/mt FOB, September shipment, moving sideways compared to June 29.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
740 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
760 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
910 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
705 |
- |
During the given week, ex-China steel pipe prices have remained stable amid maintenance works and the lack of improvement in demand from downstream users during the hot summer weather. Moreover, the repeated outbreak of Covid-19 in many regions of China has also exerted a negative impact on the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will likely edge down in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,245/mt ($631/mt) on July 6, down by RMB 115/mt ($17/mt), or 2.6 percent compared to June 29, while up by 1.12 percent compared to the previous trading day, July 5.
$1 = RMB 6.7246