During the week ending October 18, 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 $520-550/mt FOB, remaining stable compared to October 11, while export offers for API 5L seamless pipe given by Chinese suppliers are at $540-560/mt FOB, December shipment, moving sideways compared to that on October 11.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
550 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
550 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
645 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
535 |
- |
During the given week, steel pipe prices in the Chinese domestic market have remained stable amid the slight uptrend of HRC futures prices. Following the long National Day holiday, demand for steel pipe has not seen a significant improvement, while market players have mostly held a cautious attitude towards the future prospects for the steel pipe market. Coke and iron ore prices have edged up, providing some support for steel pipe prices from the cost side. It is thought that steel pipe prices in the Chinese domestic market will likely move sideways in the coming week.
As of October 18, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,747/mt ($522/mt), increasing by RMB 29/mt ($7/mt) or up by 0.78 percent since October 11.
$1 = RMB 7.1795