During the week ending June 8, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $800-820/mt FOB, moving sideways compared to June 1, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-840/mt FOB, August shipment, remaining stable compared to June 1.
|
Product name |
Quality |
Spec. |
Price ($/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 remained stable against the backdrop of improved sentiments among market players and the lack of a full recovery of demand so far. Meanwhile, support from firm iron ore prices has bolstered steel pipe prices. At the same time, rebar futures prices have edged up, providing support for the steel pipe market. However, the rainy weather in southern China may negatively affect the steel pipe market in the near future.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,795/mt ($719/mt) on June 8, up by RMB 83/mt ($12.5/mt), or 1.8 percent compared to June 1, while up by 0.97 percent compared to the previous trading day, June 7.
$1 = RMB 6.6634