During the week ending December 11, 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 $490-500/mt FOB, remaining unchanged compared to December 4, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, January shipment, moving sideways compared to December 4.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
510 |
- |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
510 |
- |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
670 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
495 |
- |
During the given period, steel pipe prices in the Chinese domestic market have moved sideways amid the slack demand from downstream users and the relatively low inventory levels in the market. Steel pipe producers have chosen to reduce their production to a certain extent as demand from construction sites has slackened in the traditional offseason. It is expected that steel pipe prices in the Chinese domestic market will likely edge down in the coming week.
As of December 11, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,561/mt ($496/mt), increasing by RMB 36/mt ($5.0/mt) or 1.0 percent since December 4, while down 0.17 percent compared to the previous trading day, December 10.
$1 = RMB 7.1843