During the week ending June 21, 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 $540-550/mt FOB, moving sideways compared to June 14, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-580/mt FOB, August shipment, remaining stable compared to June 14.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
570 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
570 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
630 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
545 |
0 |
During the given week, average steel pipe prices in the Chinese domestic market have moved sideways after the People’s Bank of China (PBOC) cut the loan prime rate (LPR) by 10 basis points on June 20, which has exerted a positive impact on market sentiment. However, the demand for steel pipe has been slack due to the widespread heavy rains and high temperatures since last weekend. It is thought that steel pipe prices in the Chinese domestic market will likely move on a fluctuating trend within a limited range in the coming week.
As of June 21, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,786/mt ($527.3/mt), decreasing by RMB 61/mt ($8.5/mt) or down by 1.6 percent since June 14.
$1 = RMB 7.1795