During the week ending March 10, average Chinese steel pipe export offer prices have mostly moved sideways in the seamless pipe segment, while prices have indicated some declines for welded pipes. At present, export offers for welded pipe given by Chinese suppliers are in the range of $705-725/mt FOB, down by $12.5/mt, while export offers for API 5L seamless pipe given by Chinese suppliers are at $820-910/mt FOB, April shipment, moving sideways compared to March 3.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
865 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
920 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1,180 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
715 |
-12.5 |
During the given week, rebar futures prices in China have moved down sharply, exerting a negative impact on the steel pipe market. At the same time, iron ore prices have indicate big declines amid the production curbs in Tangshan, also weakening the support for steel pipe prices. However, construction activities at sites have increased, which will stimulate the demand for steel pipe.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,589/mt ($705/mt) on March 10, down RMB 253/mt ($39/mt) or 5.2 percent from March 3.
$1 = RMB 6.5102