During the week ending November 9, 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 $560-570/mt FOB, remaining stable compared to November 2, while export offers for API 5L seamless pipe given by Chinese suppliers are at $580-600/mt FOB, January shipment, moving sideways compared to that on November 2.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
590 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
600 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
680 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
565 |
- |
During the given week, steel pipe prices have moved sideways amid the rebounding trend of rebar futures prices and the increasing inventory levels of steel pipe. The repeated outbreaks of the Covid-19 pandemic have weakened the demand for steel pipes from downstream users. Meanwhile, cautious sentiments have prevailed among market players. It is expected that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,590/mt ($497/mt) on November 9, up by RMB 105/mt ($14.5/mt), or 3.0 percent compared to November 2, while up by 1.53 percent compared to the previous trading day, November 8.
$1 = RMB 7.2189