During the week ending January 22, 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 stable compared to January 15, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, for January shipment, moving sideways compared to January 15.
Product name |
Quality |
Spec. |
Price ($/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 week, steel pipe prices in the Chinese domestic market have moved sideways. Some market players have left the market ahead of the Chinese New Year holiday (January 28-February 4), resulting in slack demand from downstream users. Others in the market have not been very eager to restock, exerting a negative impact on the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will remain stable in the coming week.
As of January 22, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,450/mt ($481/mt), increasing by RMB 33/mt ($4.6/mt) or 1.0 percent since January 15, while down 0.72 percent compared to the previous trading day, January 21.
$1 = RMB 7.1696
