During the week ending October 30, average Chinese steel pipe export offer prices have moved on a stable trend. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $595-680/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $510-530/mt FOB, December shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L Seamless pipe |
Gr.B |
2’’-6’’ Std |
637.5 |
0 |
|
Seamless pipe, casing |
J55 |
3’’-8’’ Std |
687.5 |
0 |
|
Seamless pipe, tubing |
ST37 |
< 3’’ Std |
922.5 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
520 |
0 |
During the given week, since the traditional peak season is practically over, demand for steel pipes has become slack. The city of Tangshan in China’s Hebei Province will start implementing production restriction measures to ensure good air quality as of October 31, which will bolster steel prices in the near future.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stood at RMB 3,373/mt ($468/mt) on October 30, up RMB 61/mt ($8.6/mt) from October 23, signaling improved market sentiment amid expected output reductions, which will exert a positive impact on steel prices in the near future.
$1 = RMB 7.058