During the week ending September 2, average Chinese steel pipe export offer prices have mostly moved sideways, though welded pipe prices have increased amid the rising trend in raw material prices. At present, export offers for API 5L seamless pipe given by Chinese suppliers are in the range of $560-650/mt FOB. Export offers for API 5L welded pipe given by Chinese suppliers are at $515-545/mt FOB for November shipment, up by $10/mt over the week.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
0 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
645 |
0 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
865 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
530 |
+10 |
During the given week, raw material prices have moved up, bolstering steel pipe prices. Average domestic HRC prices have risen by RMB 45/mt ($6.6/mt) since last Friday to RMB 4,025/mt ex-warehouse, according to SteelOrbis’ data. Iron ore prices have remained close to the highest level this year.
As the traditional peak season of the September is approaching, demand will improve, which will exert a positive impact on steel pipe prices. It is expected that steel pipe prices will edge up further in the coming week.
Rebar futures prices at Shanghai Futures Exchange (SHFE) stand at RMB 3,778/mt ($552/mt) on September 2, up RMB 52/mt ($7.6/mt) or 1.4 percent from August 26.
$1 = RMB 6.8376