During the week ending July 31, average Chinese steel pipe export offer prices have moved down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $480-490/mt FOB, moving down by $10/mt compared to July 24, while export offers for API 5L seamless pipe given by Chinese suppliers are at $490-510/mt FOB, October shipment, declining by $10/mt compared to July 24.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
500 |
-10 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
500 |
-10 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
625 |
-10 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
485 |
-10 |
During the given week, steel pipe prices in the Chinese domestic market have moved on a downtrend amid the slack demand from downstream users. The hot weather and recent typhoon have negatively affected construction activities, also exerting a negative impact on the demand for steel pipes. Cautious sentiments have prevailed among market players. It is thought that steel pipe prices in the Chinese domestic market will likely edge down in the coming week.
As of July 31, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,479/mt ($488/mt), decreasing by RMB 94/mt ($13.2/mt) or 2.6 percent since July 24, while down 0.26 percent compared to the previous trading day, July 30.
$1 = RMB 7.1346
