During the week ending January 6, average Chinese steel pipe export offer prices have remained stable. 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 $670-760/mt FOB, for early March shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
715 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
770 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1015 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
685 |
0 |
During the given week, downstream users have been unwilling to purchase steel pipes due to reduced construction activities amid cold winter weather conditions. However, the high levels of iron ore prices have bolstered market sentiment. It is thought that steel pipe prices may edge down as demand will slacken further with another round of cold weather expected.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,377/mt ($678/mt) on January 6, up RMB 112/mt ($17.3/mt) or 2.6 percent from December 30.
$1 = RMB 6.4604