During the week ending June 23, Chinese welded steel pipe export offer prices have moved down amid bearish sentiment in the market and lower HRC prices, while prices for seamless pipes have remained stable so far. At present, export offers for welded pipe given by Chinese suppliers are in the range of $810-840/mt FOB, moving down by $10/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $855-875/mt FOB, September shipment, remaining stable compared to that recorded on June 16.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
0 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
930 |
0 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,190 |
0 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
815 |
-10 |
During the given week, steel pipe prices have mostly been under pressure of the sluggish demand in traditional offseason due to the rainy weather. Buyers have mostly held a wait-and-see stance towards prospect for the future steel pipe prices as their profitability shrank. Moreover, the downtrend in rebar futures prices have also weakened the support to steel pipe prices.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,934/mt ($764/mt) on June 23, down RMB 101/mt ($15.6/mt) or 2.0 percent from June 16.
$1 = RMB 6.4621
