During the week ending March 23, 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 $820-840/mt FOB, remaining stable compared to March 16, while export offers for API 5L seamless pipe given by Chinese suppliers are at $860-890/mt FOB, June shipment, moving sideways compared to March 16.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
875 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
905 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,105 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
830 |
0 |
In the given week, the rapid spread of the Covid-19 pandemic in China has resulted in strict control measures in many regions of the country, negatively affecting the demand for steel pipe. However, rebar futures prices have increased, bolstering the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,979/mt ($783.4/mt) on March 23, up by RMB 79/mt ($0.47/mt), or 1.6 percent compared to March 16, while up by 1.03 percent compared to the previous trading day, March 22.
$1 = RMB 6.3558