During the week ending June 12, average Chinese steel pipe export offer prices have indicated a downward trend. At present, export offers for welded pipe given by Chinese suppliers are in the range of $520-530/mt FOB, decreasing by $10/mt compared to June 5, while export offers for API 5L seamless pipe given by Chinese suppliers are at $530-550/mt FOB, for September shipment, declining by $10/mt compared to June 5.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
540 |
-10 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
540 |
-10 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
665 |
-10 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
525 |
-10 |
During the given week, steel pipe prices in the Chinese domestic market have edged down amid decreasing futures prices. Currently, the widespread rainy weather has been negatively affecting the demand for steel pipes, weakening the support for prices. At the same time, following the decreases in prices, cautious sentiments have prevailed among market players. The news of China planning to reduce crude steel output during the remainder of the current year has dragged down iron ore prices and also exerted a negative impact on steel pipe prices from the cost side. It is thought that steel pipe prices in the Chinese domestic market will likely edge down further in the coming week.
As of June 12, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,774/mt ($531/mt), decreasing by RMB 7/mt ($1/mt) or 0.2 percent since June 4, while down 0.05 percent compared to the previous trading day, June 11.
$1 = RMB 7.1133
