During the week ending February 19, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $595-680/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $510-530/mt FOB, April shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
637.5 |
0 |
|
Seamless pipe, casing |
J55 |
3’’-8’’ Std |
687.5 |
0 |
|
Seamless pipe, tubing |
ST37 |
< 3’’ Std |
922.5 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
520 |
0 |
During the given week, demand for steel pipe has remained sluggish due to the ongoing impact from the coronavirus. Though China has taken measures to stimulate resumption of production, downstream users’ production has been negatively affected due to the disruption of traffic and migrant workers not returning to work.
Inventory levels have risen, which will exert a negative impact on the steel pipe market.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,394/mt ($485/mt) on February 19, down RMB 10/mt ($1.4/mt) from February 12.
$1 = RMB 7.001