During the week ending November 11, 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 $570-660/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $525-555/mt FOB, early January shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
615 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
655 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
885 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
540 |
0 |
During the given week, players in the steel pipe market have started to be cautious as regards the market prospects coming towards the end of the year amid slackening demand from the downstream construction industries. Meanwhile, traders have been seeking to lower inventory levels by reducing selling prices to stimulate transaction activities.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,843/mt ($582/mt) on November 11, up RMB 90/mt ($13.6/mt) or 2.4 percent from November 4.
$1 = RMB 6.607