During the week ending May 15, average Chinese steel pipe export offer prices have moved down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $550-560/mt FOB, moving down by $10/mt compared to May 8, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-570/mt FOB, July shipment, decreasing by $10/mt compared to May 8.
|
Product name |
Quality |
Spec. |
Price ($/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 |
-20 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
555 |
-10 |
During the given week, steel pipe prices in the Chinese domestic market have declined as demand has not improved in line with expectations. Market players are mostly cautious as regards the future prospects for the steel pipe market, exerting a negative impact on prices. Lately, ferrous metal futures prices have decreased, weakening the support for steel pipe prices. Moreover, raw material prices have also edged down, negatively affecting steel pipe prices from the cost side. It is thought that steel pipe prices in the Chinese domestic market will likely move down in the coming week.
As of May 15, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,774/mt ($531.5/mt), decreasing by RMB 34/mt ($4.8/mt) or 0.9 percent since May 8, while down 0.4 percent compared to the previous trading day, May 14.
$1 = RMB 7.1049