During the week ending November 10, 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 $800-820/mt FOB, down by $55/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $860-890/mt FOB, February shipment, moving down by $35/mt compared to that recorded on November 3.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
875 |
-35 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
915 |
-40 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,130 |
-60 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
810 |
-55 |
During the given week, steel pipe prices have moved down sharply amid the continuous declining trend seen in coking coal and coke futures prices. Bearish sentiment prevails among market players, resulting in traders’ willingness to reduce sales prices. It is expected that steel pipe prices may edge down further in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,246/mt ($663/mt) on November 10, down by RMB 139/mt ($22/mt), or 3.17 percent compared November 3, while down 1.19 percent compared to the previous trading day, November 9.
$1 = RMB 6.3948