During the week ending August 24, 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 $640-660/mt FOB, moving sideways compared to August 17, while export offers for API 5L seamless pipe given by Chinese suppliers are at $660-700/mt FOB, November shipment, remaining stable compared to that on August 17.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
680 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
690 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
800 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
650 |
0 |
During the given week, demand for steel pipe has remained sluggish, while the cautious sentiments prevailed among market players. The poor performance in real estate industry, the spreading Covid-19 pandemic in some regions of China and high temperature negatively affected steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will likely move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,086/mt ($597.4/mt) on August 24, up by RMB 93/mt ($13.6/mt), or 2.3 percent compared to August 17, while up by 1.52 percent compared to the previous trading day, August 23.
$1 = RMB 6.8388