During the week ending July 1, 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 $560-650/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $480-495/mt FOB, August shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
645 |
0 |
|
ST37 |
< 3’’ Std |
865 |
0 |
|
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
487.5 |
0 |
During the given week, raw material prices have been at relatively high levels, bolstering steel pipe prices. However, the new Covid-19 outbreak in Beijing has negatively affected the market, while rainy weather and floods in some parts of the country have weakened the demand for steel pipes.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,566/mt ($504/mt) on July 1, down RMB 54/mt ($7.6/mt) or 1.5 percent from June 24.
$1 = RMB 7.071