During the week ending March 27, average Chinese steel pipe export offer prices have edged down slightly amid the decreases in HRC futures prices. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-560/mt FOB, decreasing by $10/mt compared to March 20, while export offers for API 5L seamless pipe given by Chinese suppliers are at $550-560/mt FOB, May shipment, also down $10/mt compared to March 20.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
555 |
-10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
555 |
-10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
685 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
550 |
-10 |
During the given week, steel pipe prices in the Chinese domestic market have seen slight decreases amid the slack demand from downstream users and the decreasing trend of HRC futures prices. Coke and import iron ore prices have declined, weakening the support for steel pipe prices from the cost side. Following the rebounding trend seen in the steel market over the past week, steel prices have moved down again since March 25 due to the prevailing bearish sentiments among market players. It is expected that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of March 27, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,717/mt ($523.5/mt), decreasing by RMB 74/mt ($10.4/mt) or 1.95 percent since March 20, while down 1.72 percent compared to the previous trading day, March 26.
$1 = RMB 7.0946