During the week ending August 9, average Chinese steel pipe export offer prices have edged down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $530-550/mt FOB, decreasing by $15/mt compared to August 2, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-570/mt FOB, August shipment, down by $10/mt compared to that on August 2.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
565 |
-10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
565 |
-10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
640 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
540 |
-15 |
During the given week, average steel pipe prices in the Chinese domestic market have edged down slightly amid the negative impact from heavy rains in northern China. The typhoon Kahnun is going to affect northeastern China, which will continue to exert a negative impact on the demand for steel pipe and weaken market players’ sentiments. Currently, buyers have been cautious in concluding purchases for steel pipe. It is expected that steel pipe prices in the Chinese domestic market will likely move down in the coming week.
As of August 9, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,964/mt ($554/mt), decreasing by RMB 66/mt ($9.2/mt) or down by 1.6 percent since August 2.
$1 = RMB 7.1588