During the week ending April 10, average Chinese steel pipe export offer prices have edged up amid prevailing cautious sentiments. At present, export offers for welded pipe given by Chinese suppliers are in the range of $550-560/mt FOB, rising by $5/mt compared to April 3, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-570/mt FOB, May shipment, increasing by $10/mt compared to April 3.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
565 |
+10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
565 |
+10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
685 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
555 |
+5 |
During the given week, steel pipe prices in the Chinese domestic market have increased amid higher HRC futures prices. Market sentiments have improved to a certain degree, exerting a positive impact on steel pipe prices. However, demand for steel pipes has not been as good as market players had expected. Stimulus policies have been announced for the real estate industry and infrastructure construction, which may stimulate demand for steel pipes. It is thought that steel pipe prices in the Chinese domestic market will likely edge up further in the coming week.
As of April 10, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,741/mt ($527/mt), increasing by RMB 82/mt ($11.5/mt) or 2.2 percent since April 3, while down 0.21 percent compared to the previous trading day, April 9.
$1 = RMB 7.0959