During the week ending October 9, average Chinese steel pipe export offer prices have moved sideways. 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 $510-530/mt FOB, November shipment.
Product name |
Quality |
Spec. |
Price ($/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 |
Following the week-long holiday in China, steel pipe prices have moved sideways as activity has still been quiet. International crude oil prices have fallen to low levels, exerting a negative impact on booking activity for steel pipes. Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,413/mt ($482.5/mt) on October 9, down RMB 57/mt ($8.0/mt) compared to prices on September 30, the last trading day before the long holiday, reflecting the cautious mood of market players as regards the future prospects for the market trend as they expect a loosening of production restrictions in the coming period.
$1 = RMB 7.07