During the week ending February 9, average Chinese steel pipe export offer prices have moved up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $790-810/mt FOB, up by $10/mt compared to January 26, while export offers for API 5L seamless pipe given by Chinese suppliers are at $840-870/mt FOB, April shipment, moving up by $20/mt compared to that recorded on January 26.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
855 |
+20 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
895 |
+20 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,105 |
+30 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
800 |
+10 |
During the given week, steel pipe prices have risen compared to two weeks ago as steelmakers raised their offer prices sharply following the long holiday. Currently, bullish sentiments prevail among market players. Demand for steel pipe has not seen any significant improvement yet, though it will likely improve in the near future, which will provide support for steel pipe prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,722/mt ($745/mt) on February 9, up by RMB 121/mt ($19.0/mt), or 2.56 percent compared to January 26, while down by 1.26 percent compared to the previous trading day, February 8.
$1 = RMB 6.3653