During the week ending November 16, average Chinese steel pipe export offer prices have moved up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $580-590/mt FOB, up by $20/mt compared to November 9, while export offers for API 5L seamless pipe given by Chinese suppliers are at $590-620/mt FOB, January shipment, moving up by $15/mt compared to November 9.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
+15 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
615 |
+15 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
700 |
+20 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
585 |
+20 |
During the given week, steel pipe prices edged down first while they moved up later, and transaction activities improved gradually. The repeated outbreaks of the Covid-19 pandemic have exerted a negative impact on transportation. Meanwhile, construction activities slowed down, slackening the demand for steel pipes. However, China has issued policies to ease strict Covid-19 measures and boost the real estate industry, positively affecting market sentiments. It is expected that steel pipe prices in the Chinese domestic market will likely move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,742/mt ($531.5/mt) on November 16, up by RMB 152/mt ($21.6/mt), or 4.2 percent compared to November 9, while up by 2.07 percent compared to the previous trading day, November 15.
$1 = RMB 7.0363