During the week ending October 19, 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 $590-620/mt FOB, moving sideways compared to October 12, while export offers for API 5L seamless pipe given by Chinese suppliers are at $620-650/mt FOB, December shipment, remaining stable compared to that on October 12.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
635 |
- |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
650 |
- |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
735 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
605 |
- |
During the given week, steel pipe prices have moved sideways amid production restrictions due to the 12th National Congress of the Communist Party of China. However, demand has not improved significantly amid repeated outbreaks of the Covid-19 pandemic following the long holiday. Moreover, rebar futures prices have moved down, also weakening the support for the steel pipe market. It is thought that steel pipe prices may move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,647/mt ($513/mt) on October 19, down by RMB 107/mt ($15.1/mt), or 2.85 percent compared to October 12, while down by 0.52 percent compared to the previous trading day, October 18.
$1 = RMB 7.1105