During the week ending November 4, average Chinese steel pipe export offer prices have edged up. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $570-660/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $525-555/mt FOB, early January shipment.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
615 |
+10 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
655 |
+10 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
885 |
+20 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
540 |
+10 |
During the given week, inventory of steel pipe has remained at low levels, bolstering prices. Meanwhile, production restrictions in northern China have negatively affected production output, which will exert a positive impact on steel pipe prices. However, cautious sentiment has started to prevail among players in the steel pipe market following the rises in price.
On November 4, rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,753/mt ($563/mt), up RMB 85/mt ($12.7/mt) or 2.3 percent from October 28.
$1 = RMB 6.6771
