During the week ending March 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 $820-840/mt FOB, moving up by $30/mt compared to March 2, while export offers for API 5L seamless pipe given by Chinese suppliers are at $860-890/mt FOB, May shipment, up $20/mt compared to March 2.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
875 |
+20 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
905 |
+10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,105 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
830 |
+30 |
In the first part of the given week, steel pipe prices rose amid the increasing trend in ferrous metal futures prices and the prevailing bullish sentiments among market players. Demand has improved in March, exerting a positive impact on steel pipe prices. Meanwhile, iron ore and semi-finished steel prices have moved up, bolstering the steel pipe market from the cost side. In northern China, the supply shortage due to production restrictions during the National People's Congress and the Chinese Political Consultative Conference (NPC & CPPCC) will provide support for steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will increase in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,907/mt ($776.4/mt) on March 9, up by RMB 47/mt ($7.4/mt), or 0.97 percent compared to March 2, while down by 1.49 percent compared to the previous trading day, March 8.
$1 = RMB 6.3178