During the week ending March 8, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $650-680/mt FOB, moving sideways compared to March 1, while export offers for API 5L seamless pipe given by Chinese suppliers are at $650-690/mt FOB, May shipment, remaining stable compared to March 1.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
670 |
- |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
680 |
- |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
755 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
665 |
- |
During the given week, steel pipe prices in the Chinese domestic market have remained unchanged amid the slowly improving demand from downstream users. At the same time, stimulus policies issued by the Chinese government have exerted a positive impact on market sentiment as regards the future prospects for the steel pipe market. Raw material prices have been at relatively high levels, bolstering the steel pipe market from the cost side. It is expected that steel pipe prices in the Chinese domestic market will move up in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,249/mt ($611/mt) on March 8, up by RMB 33/mt ($4.7/mt), or 0.8 percent compared to March 1, while up by 0.26 percent compared to the previous trading day, March 7.
$1 = RMB 6.9525
