During the week ending May 6, 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 $560-650/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $480-495/mt FOB, late June shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
-22.5 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
645 |
-25 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
865 |
-57.5 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
487.5 |
-22.5 |
During the given week, crude oil prices in the international market declined amid the worsening coronavirus pandemic worldwide, resulting in slack demand for steel pipes in both the overseas and domestic markets. Meanwhile, raw material prices have edged up, which will provide some support for steel pipe prices, and so some traders expect to see a better performance in the steel pipe market.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,392/mt ($480/mt) on May 6, up RMB 90/mt ($12.7/mt) or 2.73 percent from April 29.
$1 = RMB 7.069