During the week ending July 10, average Chinese steel pipe export offer prices have moved down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $500-510/mt FOB, decreasing by $10/mt compared to July 3, while export offers for API 5L seamless pipe given by Chinese suppliers are at $510-530/mt FOB, for September shipment, moving down by $10/mt compared to July 3.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
520 |
-10 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
520 |
-10 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
645 |
-10 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
505 |
-10 |
During the given week, steel pipe prices in the Chinese domestic market have moved on a downtrend amid slack demand. Currently, inventory of steel pipe has been at relatively low levels, while downstream users have been unwilling to conclude purchases, exerting a negative impact on prices. Though sentiments have improved slightly, they are still on the cautious side. It is thought that steel pipe prices in the Chinese domestic market will move sideways in the coming week.
As of July 10, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,681/mt ($516/mt), decreasing by RMB 128/mt ($18/mt) or 3.4 percent since July 3, while down 0.73 percent compared to the previous trading day, July 9.
$1 = RMB 7.1342
