During the week ending July 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 $680-690/mt FOB, remaining stable compared to July 13, while export offers for API 5L seamless pipe given by Chinese suppliers are at $710-720/mt FOB, September shipment, moving sideways compared to that on July 13.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
715 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
735 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
855 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
685 |
- |
During the given week, ex-China steel pipe prices have moved sideways amid the prevailing bearish sentiments and slack demand from downstream users. Currently, steel pipe producers are incurring losses and so they have reduced or halted production, bolstering the market to some extent. At the same time, coke and iron ore prices have edged down, weakening the support for steel pipe prices. It is thought that steel pipe prices may edge down in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,830/mt ($567/mt) on July 20, down by RMB 80/mt ($12/mt), or 2.05 percent compared to July 13, while up by 0.42 percent compared to the previous trading day, July 19.
$1 = RMB 6.7465