During the week ending March 17, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipe given by Chinese suppliers are in the range of $705-725/mt FOB, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-910/mt FOB, May shipment, both moving sideways compared to March 10.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
920 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,180 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
715 |
- |
During the given week, demand for steel pipes from downstream users has improved, while steelmakers have implemented production curbs in Tangshan, resulting in tight supply, which has bolstered prices. Iron ore prices have indicated a rebounding trend, exerting a positive impact on steel pipe prices. It is thought that steel pipe prices will move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,785/mt ($736/mt) on March 17, up RMB 196/mt ($30/mt) or 4.3 percent from March 10.
$1 = RMB 6.4978