During the week ending May 20, 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 $560-650/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $480-495/mt FOB, late July shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
645 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
865 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
487.5 |
0 |
During the given week, OPEC members have cut their outputs of oil amid their lower expectations for oil demand in the global market, and this has exerted a negative impact on the steel pipe market. However, in the Chinese domestic market, there have been some shortages of steel pipe supply amid increasing infrastructure construction activity, which will boost prices. Moreover, raw material prices have moved up, also providing support for steel pipe prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,531/mt ($498/mt) on May 20, up RMB 67/mt ($9.4/mt) or 1.93 percent from May 13.
$1 = RMB 7.0956