During the week ending November 3, average Chinese steel pipe export offer prices have continued their downtrend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $855-875/mt FOB, edging down by $15/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $895-925/mt FOB, January shipment, down by $15/mt compared to October 27.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
910 |
-15 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
955 |
-20 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,190 |
-20 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
865 |
-15 |
During the given week, steel pipe prices have moved down further amid sharp decreases in rebar futures prices and the cautious sentiments among market players. The demand for steel pipe has been slack, also exerting a negative impact on prices. It is thought that steel pipe prices may fluctuate within a limited range in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,385/mt ($685/mt) on November 3, down RMB 270/mt ($66.5/mt) or 5.8 percent from October 27.
$1 = RMB 6.4079