During the week ending February 19, 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, moving sideways compared to February 12, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, April shipment, remaining stable compared to February 12.
Product name |
Quality |
Spec. |
Price ($/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 most steel pipe producers have maintained low production levels. Demand for steel pipes from downstream users has been slack, but will likely improve in the near future amid the gradual resumption of production. Meanwhile, inventory of steel pipe is at relatively low levels, which will bolster prices to a certain degree. It is expected that steel pipe prices in the Chinese domestic market will rebound in the coming week.
As of February 19, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,430/mt ($478/mt), increasing by RMB 15/mt ($2.1/mt) or 0.44 percent since February 12, while up 0.32 percent compared to the previous trading day, February 18.
$1 = RMB 7.1705
