During the week ending November 13, 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 $490-500/mt FOB, moving down by $20/mt compared to November 6, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, January shipment, decreasing by $20/mt compared to November 6.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
510 |
-20 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
510 |
-20 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
670 |
-15 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
495 |
-20 |
During the given period, steel pipe prices in the Chinese domestic market have moved on a downtrend amid the prevailing cautious sentiments. Since the weather is getting colder, demand for steel pipes from downstream users has been slack, exerting a negative impact on prices. The construction activities of some projects have slowed down in some regions due to the offseason, resulting in declining enthusiasm for purchases of steel pipe. It is thought that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of November 13, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,513/mt ($488/mt), decreasing by RMB 47/mt ($6.5/mt) or 1.3 percent since November 6, while up 0.29 percent compared to the previous trading day, November 12.
$1 = RMB 7.1991