During the week ending September 4, average Chinese steel pipe export offer prices have decreased. At present, export offers for welded pipe given by Chinese suppliers are in the range of $460-480/mt FOB, decreasing by $5/mt compared to August 28, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-490/mt FOB, for October shipment, edging down by $5/mt compared to August 28.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
485 |
-5 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
485 |
-5 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
615 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
470 |
-5 |
During the given week, steel pipe prices in the Chinese domestic market have declined slightly. Currently, steel pipe producers have continued the implementation of production halts, while continuing to consume inventories. Demand for steel pipe has remained slack, exerting a negative impact on prices. At the same time, HRC futures prices have declined, weakening the support for steel pipe prices. It is expected that steel pipe prices in the Chinese domestic market will likely edge down in the coming week.
As of September 4, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,171/mt ($466/mt), decreasing by RMB 150/mt ($1.3/mt) or 4.52 percent since August 28, while down 2.61 percent compared to the previous trading day, September 3.
$1 = RMB 7.1148
