During the week ending September 9, 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 $560-650/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $515-545/mt FOB, November shipment.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
645 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
865 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
530 |
0 |
During the given week, demand for steel pipe has been steady, while rising prices of hot rolled steel strip have increased production costs for steel pipe, boosting the sentiments of steel pipe producers and traders as regards the future prospects for the market trend. However, the downtrend in ferrous metal futures prices has negatively affected the steel pipe market.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,658/mt ($535/mt) on September 9, down RMB 120/mt ($17.5/mt) or 3.2 percent from September 2.
$1 = RMB 6.8423