During the week ending January 27, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $630-670/mt FOB, while export offers for API 5L seamless pipe given by Chinese suppliers are at $670-760/mt FOB, April shipment, moving sideways week on week.
|
Product name |
Quality |
Spec. |
Price ($/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 |
650 |
0 |
During the given week, construction sites have halted their activities due to the approach of the Chinese New Year holiday (February 11-17), resulting in slacker demand for steel pipes. Moreover, the worsening Covid-19 pandemic has exerted a negative impact on transportation. Downstream users will likely purchase in line with their needs in the near future, which will result in a fluctuating trend of steel prices in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,385/mt ($678/mt) on January 27, up RMB 75/mt ($11.6/mt) or 1.74 percent from January 20.
$1 = RMB 6.4665