During the week ending June 28, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-550/mt FOB, remaining stable compared to June 21, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-580/mt FOB, August shipment, moving sideways compared to that on June 21.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
570 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
570 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
630 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
545 |
0 |
During the given week, average steel pipe prices in the Chinese domestic market have remained stable amid the Dragon Boat Festival holiday, large-scale rainy weather in eastern and southern China and high temperature in northern China. Demand for steel pipe has been slack, affecting market players’ sentiments. However, HRC futures prices indicated a rebounding trend since June 26, bolstering steel pipe market to some extent. It is expected that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of June 28, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,825/mt ($530.5/mt), increasing by RMB 39/mt ($5.4/mt) or up by 1.03 percent since June 21.
$1 = RMB 7.2101