During the week ending June 19, average Chinese steel pipe export offer prices have remained at the same levels compared to the previous week. At present, export offers for welded pipe given by Chinese suppliers are in the range of $520-530/mt FOB, remaining stable compared to June 12, while export offers for API 5L seamless pipe given by Chinese suppliers are at $530-550/mt FOB, September shipment, moving sideways compared to June 12.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
540 |
- |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
540 |
- |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
665 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
525 |
- |
During the given week, steel pipe prices in the Chinese domestic market moved sideways, while transaction activities slowed down compared to May. Plum rain season in eastern China exerted a negative impact on the demand for steel pipe. The cautious sentiments prevailed among market players, which will likely negatively affect steel pipe prices in the near future. It is thought that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of June 19, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,786/mt ($532/mt), increasing by RMB 12/mt ($1/mt) or 0.3 percent since June 12, while down 0.55 percent compared to the previous trading day, June 18.
$1 = RMB 7.1159
