During the week ending September 8, average Chinese steel pipe export offer prices have continued their stable trend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $845-875/mt FOB, remaining stable week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $855-875/mt FOB, November shipment, moving sideways compared to that recorded on September 1.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
925 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,150 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
860 |
0 |
During the given week, steel pipe prices have moved sideways amid support from the rising iron ore prices and the prevailing improved sentiments among market players. Traders have mostly been building up their stocks in line with their needs, while holding an optimistic view of the future market prospects. It is expected that steel pipe prices may edge up in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 5,452/mt ($843/mt) on September 8, up RMB 210/mt ($32.5/mt) or 4.0 percent from September 1.
$1 = RMB 6.4674