During the week ending August 3, average Chinese steel pipe export offer prices have moved stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $640-660/mt FOB, moving sideways compared to July 27, while export offers for API 5L seamless pipe given by Chinese suppliers are at $660-700/mt FOB, September shipment, remaining stable compared to that on July 27.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
680 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
690 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
800 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
650 |
0 |
During the given week, the demand for steel pipe has remained sluggish, though ferrous metal futures prices have moved up. The hot weather in China has negatively affected construction activities and demand for steel pipe. Producers have implemented maintenance works, resulting in reduced outputs, bolstering the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,063/mt ($599/mt) on August 3, up by RMB 147/mt ($22/mt), or 3.75 percent compared to July 27, while down by 0.06 percent compared to the previous trading day, August 2.
$1 = RMB 6.7813