During the week ending November 6, 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 $510-520/mt FOB, moving sideways compared to October 30, while export offers for API 5L seamless pipe given by Chinese suppliers are at $520-540/mt FOB, January shipment, remaining stable compared to October 30.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
530 |
- |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
530 |
- |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
685 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
515 |
- |
During the given period, steel pipe prices in the Chinese domestic market have moved sideways due to the relatively stable situation regarding supply and demand. Demand for steel pipe from downstream users has slackened slightly, while supply shortages exist for certain products. Traders have been unwilling to build up stock at current stage, weakening the support for steel pipe prices. It is expected that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of November 6, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,560/mt ($501/mt), increasing by RMB 28/mt ($3.9/mt) or 0.8 percent since October 30, while down 1.0 percent compared to the previous trading day, November 5.
$1 = RMB 7.0993