During the week ending March 20, average Chinese steel pipe export offer prices have fluctuated within a limited range amid the slight rises in HRC futures prices. At present, export offers for welded pipes given by Chinese suppliers are in the range of $550-570/mt FOB, increasing by $10/mt compared to March 13, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-570/mt FOB, May shipment, remaining stable compared to March 13.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
565 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
565 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
685 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
560 |
+10 |
During the given week, demand for steel pipes has gradually improved - though it is still on the slack side - affecting prices. Inventory of steel pipe has been at medium to high levels, exerting a negative impact on market sentiments. However, the iron and steel associations of Guangdong and Shandong provinces have urged steelmakers to halt production and bolster prices to a certain degree. It is expected that steel pipe prices in the Chinese domestic market will edge up in the coming week amid improving sentiments.
As of March 20, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,791/mt ($534/mt), increasing by RMB 22/mt ($3.1/mt) or 0.6 percent since March 13, while up 0.8 percent compared to the previous trading day, March 19.
$1 = RMB 7.0968