During the week ending June 26, average Chinese steel pipe export offer prices have edged down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $510-520/mt FOB, declining by $10/mt compared to June 19, while export offers for API 5L seamless pipe given by Chinese suppliers are at $520-540/mt FOB, for September shipment, decreasing by $10/mt compared to June 19.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
530 |
-10 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
530 |
-10 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
655 |
-10 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
515 |
-10 |
During the given week, steel pipe prices in the Chinese domestic market have moved on a downtrend amid the slack demand from downstream users. High temperatures in northern China and continuous rainfall in southern China have exerted a negative impact on the demand for steel pipes. Moreover, cautious sentiments have prevailed among market players. It is thought that steel pipe prices in the Chinese domestic market will likely see further decreases in the coming week.
As of June 26, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,753/mt ($527/mt), decreasing by RMB 33/mt ($1/mt) or 0.9 percent since June 19, while up 0.62 percent compared to the previous trading day, June 25.
$1 = RMB 7.1248
