During the week ending March 3, average Chinese steel pipe export offer prices have moved on an overall uptrend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $715-740/mt FOB, up by $22.5/mt, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-910/mt FOB, April shipment, moving up by $50/mt, both compared to February 24.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
+50 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
920 |
+50 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,180 |
+60 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
727.5 |
+22.5 |
During the given week, demand for steel pipes has improved, while downstream users started to hesitate amid the sharp rises in prices. The National People's Congress and the Chinese Political Consultative Conference (NPC & CPPCC) will be held on March 5, resulting in stricter production curbs, which will lower supply and bolster steel pipe prices. Amid the high levels of iron ore prices, steel pipe prices will gain support and fluctuate at high levels.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,842/mt ($750/mt) on March 3, up RMB 224/mt ($35/mt) or 4.85 percent from February 24.
$1 = RMB 6.4565
