During the week ending May 19, average Chinese steel pipe export offer prices have moved down following previous big rises. At present, export offers for welded pipe given by Chinese suppliers are in the range of $930-960/mt FOB, moving down by $65/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $990-1,010/mt FOB, July shipment, edging down by $60/mt compared to that recorded on May 12.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
1,000 |
-60 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
1,075 |
-70 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,350 |
-100 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
945 |
-65 |
During the given week, steel pipe prices have seen declines as demand slackened following previous big rises. At the same time, rebar futures prices have decreased sharply, also negatively affecting steel pipe market.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 5,309/mt ($826/mt) on May 19, down RMB 862/mt ($134/mt) or 14 percent from May 12.
$1 = RMB 6.4255