During the week ending April 27, average Chinese steel pipe export offer prices have moved down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $810-840/mt FOB, edging down by $15/mt compared to April 20, while export offers for API 5L seamless pipe given by Chinese suppliers are at $850-880/mt FOB, July shipment, moving down by $20/mt compared to April 20.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
-20 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
890 |
-25 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,060 |
-45 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
825 |
-15 |
During the given week, steel pipe prices have moved down amid the ongoing Covid-19 restrictions, which have resulted in transportation difficulties and high freight costs. Demand from downstream users has not seen an improvement yet, though the cut in the reserve requirement ratio for banks and China’s target to reduce crude steel output have bolstered market players’ sentiments. It is expected that steel pipe prices may move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,864/mt ($741.5/mt) on April 27, down by RMB 242/mt ($37/mt), or 4.74 percent compared to April 20, while up by 0.98 percent compared to the previous trading day, April 26.
$1 = RMB 6.5598