During the week ending February 24, average Chinese steel pipe export offer prices have moved on an overall uptrend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $695-715/mt FOB, up by $55/mt, while export offers for API 5L seamless pipe given by Chinese suppliers are at $770-860/mt FOB, for April shipment, moving up by $100/mt, both compared to February 10.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
815 |
+100 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
870 |
+100 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,120 |
+105 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
705 |
+55 |
During the given week, bullish sentiment has prevailed among market players amid the rising trend in ferrous metal futures prices in China. Meanwhile, steel pipe prices in the local market have moved up due to increasing production costs. As for the week ahead, it is thought that steel pipe prices in the Chinese domestic market will fluctuate within a limited range at the current high levels.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,618/mt ($715/mt) on February 24, up RMB 214/mt ($33/mt) or 4.85 percent from February 10.
$1 = RMB 6.4615