During the week ending August 31, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $640-660/mt FOB, moving sideways compared to August 24, while export offers for API 5L seamless pipe given by Chinese suppliers are at $660-700/mt FOB, November shipment, remaining stable compared to August 24
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
680 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
690 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
800 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
650 |
0 |
During the given week, demand for steel pipe has been slack, while the hot temperatures have eased in southern China. Market players expect better demand in September. However, rebar futures prices have moved down over the past two trading days, exerting a negative impact on the steel pipe market. It is expected that steel pipe prices in the Chinese domestic market may indicate a rebounding trend in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,677/mt ($534/mt) on August 31, down by RMB 409/mt ($59.4/mt), or 10.0 percent compared to August 24, while down by 0.84 percent compared to the previous trading day, August 30.
$1 = RMB 6.8906