During the week ending February 26, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $490-500/mt FOB, remaining unchanged compared to February 19, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, April shipment, moving sideways compared to February 19.
Product name |
Quality |
Spec. |
Price ($/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 week, steel pipe prices in the Chinese domestic market have moved sideways amid the divergences in apparent consumption in north and south China. The low temperatures have exerted a negative impact on construction activities in north China. The inventory of steel pipe has been at low to medium levels amid increasing orders, which has bolstered prices to a certain degree. Market players think that demand will improve further in the coming period. It is thought that steel pipe prices in the Chinese domestic market will edge up in the coming week.
As of February 26, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,432/mt ($479/mt), increasing by RMB 2/mt ($0.3/mt) since February 19, while up 1.18 percent compared to the previous trading day, February 25.
$1 = RMB 7.1732
