During the week ending January 13, average Chinese steel pipe export offer prices have mostly moved sideways especially for seamless pipes, though indicating declines for welded pipe amid weak demand and lower HRC prices in China.
At present, export offers for API 5L welded pipe given by Chinese suppliers are in the range of $630-670/mt FOB, down $35/mt week on week, while export offers for API 5L seamless pipe given by Chinese suppliers are at $670-760/mt FOB, early March shipment, moving sideways week on week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
715 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
770 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
1015 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
650 |
-35 |
During the given week, welded steel pipe prices have declined amid prevailing bearish sentiments among market players. Buyers have not built up stocks for the winter season yet as they have a cautious view as regards the future prospects for the market. HRC prices have moved down since last week by RMB 55/mt ($12/mt) in the local market, providing support for welded pipe prices from the cost side.
At the same time, ferrous metal futures prices have indicated downward corrections, exerting a negative impact on the steel pipe market. It is expected that steel pipe prices in the Chinese domestic market will remain under pressure in the near future.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 4,293/mt ($665/mt) on January 13, down RMB 84/mt ($13/mt) or 1.9 percent from January 6.
$1 = RMB 6.4605