During the week ending October 23, 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 $510-530/mt FOB, December shipment.
|
Product name |
Quality |
Spec. |
Price ($/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 |
In the given week, steel pipe prices have moved sideways, while transportation costs have risen due to restrictions on overloading of transport following a traffic accident in Wuxi, Jiangsu Province, and this will likely provide support for steel pipe prices from the cost side.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stood at RMB 3,312/mt ($468/mt) on October 23, up RMB 21/mt ($3.0/mt) compared to October 16, signaling improved market sentiment, which will exert a positive impact on steel prices in the near future.
$1=RMB 7.075