During the week ending March 13, average Chinese steel pipe export offer prices have moved down amid the ongoing decreasing trend of 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 $20/mt compared to March 6, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-570/mt FOB, May shipment, also down $20/mt compared to March 6.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
565 |
-20 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
565 |
-20 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
685 |
-20 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
550 |
-20 |
During the given week, steel pipe prices in the Chinese domestic market have seen further declines amid decreasing ferrous metal futures prices. Cautious sentiments have prevailed among market players, exerting a negative impact on the steel pipe market. Iron ore futures prices have continued to fall, weakening the support for steel pipe prices. It is thought that steel prices in the Chinese domestic market will likely move on a downtrend in the coming week.
As of March 13, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,769/mt ($541.4/mt), decreasing by RMB 75/mt ($10.6/mt) or 1.95 percent since March 6, while down 0.42 percent compared to the previous trading day, March 12.
$1 = RMB 7.093