During the week ending November 18, average Chinese steel pipe export offer prices have moved sideways for seamless pipe, while edging up for welded pipes. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $570-660/mt FOB, while export offers for API 5L welded pipe given by Chinese suppliers are at $535-565/mt FOB, early January shipment, up by $10/mt week on week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
615 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
655 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
885 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
550 |
+10 |
During the given week, steel pipe producers in northern China implemented production restrictions, resulting in reduced supply and bolstering prices. Meanwhile, the appreciation of the Chinese currency has exerted a positive impact on ex-China steel pipe offer prices. However, the demand from downstream users has not seen any big improvement. It is thought that ex-China steel pipe prices may move sideways in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,907/mt ($595.6/mt) on November 18, up RMB 64/mt ($9.8/mt) or 1.7 percent from November 11.
$1 = RMB 6.5593