During the week ending August 2, 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 $550-560/mt FOB, remaining stable compared to July 26, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, August shipment, moving sideways compared to that on July 26.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
575 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
575 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
640 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
555 |
0 |
During the given week, average steel pipe prices in the Chinese domestic market have moved sideways amid the slack demand from downstream users and government policies bolstering market sentiments. The serious floods in northern China caused by typhoon Doksuri have exerted a negative impact on the steel pipe market. However, the stimulus policies for the real estate sector have provided support for steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will likely remain stable in the coming week.
As of August 2, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,030/mt ($564/mt), decreasing by RMB 21/mt ($2.94/mt) or up by 0.5 percent since July 26.
$1 = RMB 7.1368