During the week ending October 16, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $595-680/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $510-530/mt FOB, December shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L Seamless pipe |
Gr.B |
2’’-6’’ Std |
637.5 |
0 |
|
Seamless pipe, casing |
J55 |
3’’-8’’ Std |
687.5 |
0 |
|
Seamless Pipe, tubing |
ST37 |
< 3’’ Std |
922.5 |
0 |
|
Welded Pipes |
Gr.B |
2’’-6’’ Std |
520 |
0 |
In the given week, steel pipe prices have continued to move sideways, while bearish sentiments prevailed in steel market. Demand for steel pipe in international market have remained slack, exerting a negative impact on export of steel pipes.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stood at RMB 3,291/mt ($482.5/mt) on October 16, down RMB 122/mt ($17.2/mt) compared to that recorded on October 9, signaling market players in steel market have been pessimistic towards prospect for the future market amid anticipated weaker demand in colder weather.
$1=RMB 7.07