During the week ending December 27, 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 $580-600/mt FOB, moving sideways compared to December 20, while export offers for API 5L seamless pipe given by Chinese suppliers are at $590-610/mt FOB, March shipment, remaining stable compared to December 20.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
600 |
0 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
600 |
0 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
690 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
590 |
0 |
During the given week, steel pipe prices in the Chinese domestic market have moved on a stable trend amid the prevailing cautious sentiments among market players due to the snowy and rainy weather conditions. Downstream users have been unwilling to build up stocks for the winter, exerting a negative impact on steel pipe prices. However, the high levels of iron ore prices have bolstered steel pipe prices strongly. At the same time, HRC futures prices have risen, providing support for the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
As of December 27, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,137/mt ($570/mt), increasing by RMB 79/mt ($11.1) since December 20, while which saw a rise of 0.07 percent compared to the previous trading day (December 26).
$1 = RMB 7.1002