During the week ending October 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 $510-520/mt FOB, remaining stable compared to October 23, while export offers for API 5L seamless pipe given by Chinese suppliers are at $520-540/mt FOB, January shipment, remaining unchanged compared to October 23.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
530 |
- |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
530 |
- |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
685 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
515 |
- |
During the given period, steel pipe prices in the Chinese domestic market have moved sideways, while market players worried about the trend in the coming period. It has been colder and colder in northern China, which negatively affected the demand for steel pipe. However, production halt due to the environmental protection measures in some regions of northern China bolstered steel pipe prices to a certain degree. It is thought that steel pipe prices in the Chinese domestic market will continue the fluctuating trend within a limited range in the coming week.
As of October 30, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,588/mt ($503/mt), increasing by RMB 112/mt ($16/mt) or 3.2 percent since October 23, while down 0.06 percent compared to the previous trading day, October 29.
$1 = RMB 7.139
