During the week ending November 15, average Chinese steel pipe export offer prices have increased by $10/mt. At present, export offers for welded pipe given by Chinese suppliers are in the range of $555-565/mt FOB, moving up by $15/mt compared to November 8, while export offers for API 5L seamless pipe given by Chinese suppliers are at $565-575/mt FOB, January shipment, increasing by $10/mt compared to November 8.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
570 |
+10 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
570 |
+10 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
670 |
+10 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
560 |
+15 |
During the given week, ferrous metal futures prices have moved on an uptrend, exerting a positive impact on market sentiments. Inventory of steel pipe has decreased to a new low, providing support for prices. At the same time, import iron ore prices have increased, bolstering steel pipe prices from the cost side. However, demand has not seen significant improvement, which may weaken the market. It is thought that steel pipe prices in the Chinese domestic market may continue their uptrend, though with a slower growth.
As of November 15, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,000/mt ($557/mt), increasing by RMB 60/mt ($10.5/mt) or up by 1.5 percent since November 8.
$1 = RMB 7.1752
