During the week ending December 23, average Chinese steel pipe export offer prices have moved up sharply. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $660-710/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $670-760/mt FOB, early March shipment, up $50/mt and $30/mt week on week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
715 |
+30 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
770 |
+35 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,015 |
+45 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
685 |
+50 |
During the given week, steel pipe prices have moved up further amid increasing raw material prices, while market players have started to be cautious towards the prospects for the future market following the quick price rises. Recently, iron ore prices have indicated downward corrections, which will likely weaken the support for steel pipe prices. It is thought that steel pipe prices will likely move on a fluctuating trend within a limited range in the coming period.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,283/mt ($653/mt) on December 23, up RMB 135/mt ($20.6/mt) or 3.25 percent from December 16.
$1 = RMB 6.5558