During the week ending November 22, average Chinese steel pipe export offer prices have moved on an uptrend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $560-570/mt FOB, increasing by $5/mt compared to November 15, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-590/mt FOB, January shipment, rising by $10/mt compared to that on November 15.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
580 |
+10 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
580 |
+10 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
690 |
+20 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
565 |
+5 |
During the given week, steel pipe prices have moved up amid increasing ferrous metal futures prices and declining inventory levels. Currently, inventories of steel pipes are at relatively low levels, bolstering prices. Moreover, coke prices have indicated rises, exerting a positive impact on steel pipe prices from the cost side. Meanwhile, bullish sentiments prevail among market players. It is thought that steel pipe prices in the Chinese domestic market may edge up in the coming week.
As of November 22, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,059/mt ($570/mt), increasing by RMB 59/mt ($8.3/mt) or up by 1.5 percent since November 15.
$1 = RMB 7.1254
