During the week ending May 10, 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 $560-570/mt FOB, moving sideways compared to April 26, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, July shipment, remaining stable compared to April 26.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
575 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
575 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
640 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
565 |
- |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways amid the declines in production, which have bolstered prices to some extent. However, demand has not seen significant improvements, while inventory levels have increased, exerting a negative impact on the steel pipe market. At the same time, iron ore prices have moved down, which will likely weaken the support for steel pipe prices from the cost side. It is thought that steel pipe prices in the Chinese domestic market may edge down in the coming week.
As of May 10, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,760/mt ($543/mt), decreasing by RMB 11/mt ($1.6/mt) or moving down by 0.3 percent since April 26.
$1 = RMB 6.9299