During the week ending July 5, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-550/mt FOB, moving sideways compared to June 28, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-580/mt FOB, August shipment, remaining stable compared to that on June 28.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
570 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
570 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
630 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
545 |
0 |
During the given week, average steel pipe prices in the Chinese domestic market have moved sideways amid slack demand and producers’ willingness to bolster their offer prices. Meanwhile, HRC futures prices have edged up, providing support for steel pipe prices. The hot summer weather will continue to reduce demand for steel pipes, which will exert a negative impact on prices. It is thought that steel pipe prices may move on a fluctuating trend within a limited range in the coming week.
As of July 5, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,851/mt ($535/mt), increasing by RMB 26/mt ($3.6/mt) or up by 0.68 percent since June 28.
$1 = RMB 7.1968