During the week ending February 5, average Chinese steel pipe export offer prices have remained unchanged. At present, export offers for welded pipe given by Chinese suppliers are in the range of $490-500/mt FOB, moving sideways compared to January 22, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, March shipment, remaining stable compared to January 22.
Product name |
Quality |
Spec. |
Price ($/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 remained stable as the market has been quiet due to the Chinese New Year holiday (January 28-February 4). Most market players may come back to the market after the Lantern Festival (February 12), which will exert a negative impact on transaction activities in the steel pipe market. It is expected that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of February 5, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,416/mt ($481/mt), decreasing by RMB 34/mt ($4.7/mt) or 1.0 percent since January 22, while down 1.64 percent compared to the previous trading day, January 27.
$1 = RMB 7.1693