During the week ending October 25, average Chinese steel pipe export offer prices have edged up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-550/mt FOB, moving up by $10/mt compared to October 18, while export offers for API 5L seamless pipe given by Chinese suppliers are at $550-570/mt FOB, December shipment, increasing by $10/mt compared to that on October 18.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
560 |
+10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
560 |
+10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
660 |
+15 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
545 |
+10 |
During the given week, steel pipe prices in the Chinese domestic market have indicated an uptrend amid the bottoming-up of ferrous metal futures prices. Recently, steel pipe producers have implemented maintenance works, reducing outputs and easing the pressure on the supply side, bolstering prices to a certain degree. At the same time, iron ore prices have moved on an uptrend and are at relatively high levels, exerting a positive impact on steel pipe prices from the cost side. It is thought that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of October 25, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,794/mt ($528/mt), increasing by RMB 47/mt ($7/mt) or up by 1.25 percent since October 18.
$1 = RMB 7.1785