During the week ending December 30, 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 $660-710/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $670-760/mt FOB, for early March shipment, remaining stable week on week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
715 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
770 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1015 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
685 |
0 |
During the given week, extremely cold weather has hit China, resulting in the halting of construction activities and reduced demand for steel pipes. Traders have been cautious as regards the future prospects for the steel pipe market. However, the high levels of iron ore prices will bolster steel pipe prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,256/mt ($652/mt) on December 30, down RMB 27/mt ($4.13/mt) or 3.25 percent from December 23.
$1 = RMB 6.5325