During the week ending November 23, 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 $580-590/mt FOB, remaining stable compared to November 16, while export offers for API 5L seamless pipe given by Chinese suppliers are at $590-620/mt FOB, January shipment, moving sideways compared to that on November 16.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
615 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
700 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
585 |
- |
During the given week, steel pipe prices have fluctuated within a limited range amid the ups and downs in ferrous metal futures prices. Though the easing of Covid-19 restrictions has exerted a positive impact on the steel pipe market, there are many regions struggling with the pandemic and transportation has been negatively affected. The slack demand has weakened sentiments among market players. However, Tangshan is expected to implement production restrictions due to pollution control measures during the winter, which will reduce supply and bolster steel pipe prices. 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 3,691/mt ($518/mt) on November 23, down by RMB 51/mt ($7.2/mt), or 1.36 percent compared to November 16, while up by 0.11 percent compared to the previous trading day, November 22.
$1 = RMB 7.1281