During the week ending March 11, average Chinese steel pipe export offer prices have remained stable. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $585-670/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $500-520/mt FOB, for April shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
627.5 |
0 |
|
Seamless pipe, casing |
J55 |
3’’-8’’ Std |
670 |
0 |
|
Seamless pipe, tubing |
ST37 |
< 3’’ Std |
922.5 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
510 |
0 |
During the given week, though demand from downstream users has improved, some workers have stilll experienced difficulties in returning to work. The market has basically been consuming current inventories of steel pipe. Meanwhile, the rapid spread of the coronavirus worldwide has shaken market players’ sentiments.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,497/mt ($502.4/mt) on March 11, up RMB 20/mt ($2.9/mt) or 0.6 percent from March 4.
$1 = RMB 6.9612