During the week ending February 8, 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 $610-630/mt FOB, remaining stable compared to February 1, while export offers for API 5L seamless pipe given by Chinese suppliers are at $620-650/mt FOB, March shipment, moving sideways compared to that on February 1.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
635 |
0 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
645 |
0 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
715 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
620 |
0 |
During the given week, steel pipe prices in the Chinese domestic market have indicated some rises amid market players’ good expectation for the future market. At the same time, inventory levels of steel pipe have increased slightly as demand has not improved in line with expectations. However, market participants think demand for pipes from downstream users will improve in the near future as market players have been returning to the market after the holiday.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,055/mt ($598.5/mt) on February 8, down by RMB 29/mt ($4.3/mt), or 0.7 percent compared to February 1, while up by 0.97 percent compared to the previous trading day, February 7.
$1 = RMB 6.7752
