During the week ending August 7, average Chinese steel pipe export offer prices have moved down. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $625-710/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $540-560/mt FOB.
During the given week, iron ore prices have indicated big decreases, exerting a negative impact on steel pipe prices in China. Meanwhile, rebar futures prices at Shanghai Futures Exchange (SHFE) have declined sharply, also negatively affecting the steel pipe market, while the very hot weather in China has weakened demand for steel pipes. It is thought that steel pipe prices from China will edge soften further in the coming week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L Seamless pipe |
Gr.B |
2’’-6’’ Std |
667.5 |
↓12.5 |
|
Seamless pipe, casing |
J55 |
3’’-8’’ Std |
705 |
↓17.5 |
|
Seamless pipe, tubing |
ST37 |
< 3’’ Std |
960 |
↓20 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
550 |
↓25 |