During the week ending May 12, 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 $1,000-1,020/mt FOB, moving up by $225/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $1,050-1,070/mt FOB, July shipment, edging up by $160/mt compared to April 28.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
1,060 |
+160 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
1,145 |
+175 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,450 |
+205 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
1,010 |
+225 |
During the given week, steel pipe prices have hit their highest level since 2008 amid surging raw material prices, increasing ferrous metal futures prices and expectations of production restrictions. Rebar futures prices have indicated continuous rises following the Labor Day holiday as market players expected rising commodity prices in the global market would also push up rebar prices, which in turn bolstered steel pipe prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 6,171/mt ($960/mt) on May 12, up RMB 813/mt ($11.1/mt) or 15.2 percent from April 28.
$1 = RMB 6.4258