During the week ending June 1, 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 $800-820/mt FOB, moving sideways compared to May 25, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-840/mt FOB, August shipment, keeping in line with that on May 25.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
830 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
855 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,030 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
810 |
0 |
During the given week, ex-China steel pipe prices have moved sideways amid the cautious sentiments prevailing among market players. In southern China, heavy rainfall has negatively affected construction activities, resulting in a slackening of demand for steel pipes. Shanghai has resumed construction works as of June 1, which will exert a positive impact on the steel pipe market. It is thought that steel pipe prices in China may move up in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,712/mt ($707/mt) on June 1, up by RMB 171/mt ($25.7/mt), or 3.8 percent compared to May 25, while up by 1.2 percent compared to the previous trading day, May 31.
$1 = RMB 6.6651