During the week ending October 12, 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 $590-620/mt FOB, remaining stable compared to September 28, while export offers for API 5L seamless pipe given by Chinese suppliers are at $620-650/mt FOB, December shipment, remaining stable compared to September 28.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
635 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
650 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
735 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
605 |
- |
During the given week, steel pipe prices have moved sideways while demand has not been as good as market players expected. Mainstream steel pipe producers implemented maintenance works against the backdrop of high inventory levels, which may bolster prices in the near future. 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 3,754/mt ($528/mt) on October 12, down by RMB 69/mt ($9.7/mt), or 1.8 percent compared to September 28, while down by 1.7 percent compared to the previous trading day, October 11.
$1 = RMB 7.1103