During the week ending November 24, average Chinese steel pipe export offer prices have continued their stable trend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $800-820/mt FOB, moving sideways week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $860-890/mt FOB, February shipment, remaining stable compared to that recorded on November 10.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
875 |
- |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
915 |
- |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,130 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
810 |
- |
During the given week, steel pipe prices have moved sideways amid tight supply and rebounding ferrous metal futures prices. Traders have been willing to bolster their offer prices, which will exert a positive impact on steel pipe prices in the near future.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,502/mt ($660/mt) on November 24, up by RMB 286/mt ($45/mt) or 6.8 percent compared to November 17, while up 3.23 percent compared to the previous trading day, November 23.
$1 = RMB 6.3903