During the week ending December 25, 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 $490-500/mt FOB, remaining unchanged compared to December 18, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, January shipment, moving sideways compared to December 18.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
510 |
- |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
510 |
- |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
670 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
495 |
- |
During the given period, steel pipe prices in the Chinese domestic market have remained unchanged. Construction activities shrank significantly as it is approaching to the Chinese New Year holiday (January 28-February 4), which slackened the demand from downstream. Cautious sentiments prevailed among market players. The large-scale stock built-up for winter hasn’t been seen yet as most buyers chose to keep a relatively low inventory level. It is expected that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of December 25, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,425/mt ($476/mt), decreasing by RMB 25/mt ($3.5/mt) or 0.7 percent since December 18, while up 0.26 percent compared to the previous trading day, December 24.
$1 = RMB 7.1868