During the week ending December 2, 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 $570-660/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $535-565/mt FOB, for early February shipment, remaining stable week on week.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
615 |
0 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
655 |
0 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
885 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
550 |
0 |
During the given week, production halts due to environmental protection measures have exerted a negative impact on steel pipe supply, resulting in a supply shortage in the market and bolstering prices. However, inventory consumption has been proceeding slowly this week amid bearish sentiment among traders. It is thought that ex-China steel pipe prices may move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,913/mt ($596.5/mt) on December 2, up RMB 48/mt ($7.3/mt) or 1.24 percent from November 25.
$1 = RMB 6.5611
