During the week ending May 31, 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 $510-530/mt FOB, remaining stable compared to May 24, while export offers for API 5L seamless pipe given by Chinese suppliers are at $530-550/mt FOB, July shipment, moving sideways compared to May 24.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
540 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
540 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
600 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
520 |
- |
During the given week, average steel pipe prices in the Chinese domestic market have moved sideways amid the prevailing cautious sentiments among market players. Some steel pipe producers have halted production due to the slack demand for steel pipes. Since the hot summer weather is approaching, demand is unlikely to improve in the near future. It is thought that steel pipe prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
As of May 31, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,581/mt ($506/mt), rising by RMB 30/mt ($4.2/mt) or up by 0.85 percent since May 24.
$1 = RMB 7.0821