During the week ending March 5, average Chinese steel pipe export offer prices have moved on a downtrend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $480-490/mt FOB, decreasing by $10/mt compared to February 26, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-510/mt FOB, April shipment, edging down by $5/mt compared to February 26.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
505 |
-5 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
505 |
-5 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
670 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
485 |
-10 |
During the given week, steel pipe prices in the Chinese domestic market have edged down slightly amid the slack demand from downstream users. Cautious sentiments have prevailed among market players, while the relatively low inventory levels have bolstered steel pipe prices to a certain degree. Steel pipe producers are looking forward to stimulus measures following the Two Sessions meetings. Meanwhile, the production halts in northern China have also provided some support for market sentiments. It is expected that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of March 5, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,376/mt ($471/mt), decreasing by RMB 56/mt ($7.8/mt) since February 26, while down 0.56 percent compared to the previous trading day, March 4.
$1 = RMB 7.1732