During the week ending May 27, average Chinese steel pipe export offer prices have continued to move 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 $480-495/mt FOB, for late July shipment.
Product name |
Quality |
Spec. |
Price ($/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, demand for steel pipe has been slack, with downstream users unwilling to build up stocks and mostly maintaining a wait-and-see stance. Meanwhile, supply of steel pipes has been sufficient, weakening the support for prices. However, raw material prices have been at high levels, providing support for steel pipe prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,494/mt ($492/mt) on May 27, down RMB 37/mt ($5.2/mt) or 1.05 percent from May 20.
$1 = RMB 7.1092
