During the week ending August 30, 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 $540-560/mt FOB, remaining stable compared to August 23, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-570/mt FOB, for November shipment, moving sideways compared to August 23.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
565 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
565 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
640 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
550 |
- |
During the given week, demand for steel pipes has been slack, resulting in cautious sentiments among market players. Meanwhile, typhoons Saola and Haikui have impacted China, resulting in rainy weather and reduced demand for steel pipes, exerting a negative impact on prices. As the traditional peak season of September and October is approaching, market players think demand may improve in the near future, which will bolster steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will likely edge up in the coming week.
As of August 30, HRC futures prices at Shanghai Futures Exchange are standing at RMB 3,870/mt ($539/mt), decreasing by RMB 67/mt ($9.3/mt) or up by 1.7 percent since August 23.
$1 = RMB 7.1816