During the week ending June 2, average Chinese steel pipe export offer prices have moved up following previous big declines. At present, export offers for welded pipe given by Chinese suppliers are in the range of $810-840/mt FOB, moving up by $25/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $855-875/mt FOB, July shipment, edging up by $15/mt compared to May 26.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
+15 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
930 |
+20 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,190 |
+30 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
825 |
+25 |
During the given week, steel pipe prices have moved up slightly amid the rebounding trend in ferrous metal futures prices in China. However, the inventory of steel pipe has increased, exerting a negative impact on prices. As the rainy season in eastern and southern China is drawing closer, demand for steel pipe may slacken and weaken the support for prices in the near future.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 5,002/mt ($784/mt) on June 2, up RMB 335/mt ($52.5/mt) or 7.2 percent from May 26.
$1 = RMB 6.4099