During the week ending September 6, average Chinese steel pipe export offer prices have moved on an uptrend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $550-570/mt FOB, rising by $10/mt compared to August 30, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB for November shipment, increasing by $10/mt compared to August 30.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
575 |
+10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
575 |
+10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
655 |
+15 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
560 |
+10 |
During the given week, steel pipe prices in the Chinese domestic market have edged up slightly against the backdrop of stimulus policies which have boosted market sentiments. At the same time, futures prices have increased, also exerting a positive impact on the steel pipe market. Meanwhile, inventory of steel pipes has decreased, bolstering prices. Market players expect a good performance in the peak season of September, which will positively affect steel pipe prices. It is expected that steel pipe prices in the Chinese domestic market may continue their uptrend in the coming week.
As of September 6, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,908/mt ($543/mt), rising by RMB 38/mt ($5.3/mt) or up by 1.0 percent since August 30.
$1 = RMB 7.1969