During the week ending June 15, 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 $770-800/mt FOB, moving down by $25/mt compared to June 8, while export offers for API 5L seamless pipe given by Chinese suppliers are at $800-820/mt FOB, August shipment, down $20/mt compared to June 8.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
810 |
-20 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
830 |
-25 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
975 |
-55 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
785 |
-25 |
During the given week, ex-China steel pipe prices have declined amid the rainy season in eastern and southern China and the prevailing bearish sentiments among market players. The inventory levels of steel pipes have risen slightly, exerting a negative impact on prices. Moreover, rebar futures prices have moved down sharply, also negatively affecting the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will likely move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,547/mt ($673.6/mt) on June 15, down by RMB 248/mt ($36.7/mt), or 5.2 percent compared to June 8, while down by 2.45 percent compared to the previous trading day, June 14.
$1 = RMB 6.7518