During the week ending December 6, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $570-590/mt FOB, moving sideways compared to November 29, while export offers for API 5L seamless pipe given by Chinese suppliers are at $580-600/mt FOB, January shipment, remaining stable compared to November 29.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
590 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
590 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
690 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
580 |
- |
During the given week, ferrous metals futures prices moved down first while they edged up later, affecting market sentiments. Steel pipe producers’ production has increased as stock replenishment for the winter season will start soon. The relatively high levels of raw material prices have bolstered steel pipe prices to a certain degree, while some market players lack confidence as regards the future prospects for the steel pipe market, which will exert a negative impact on prices. It is expected that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of December 6, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,028/mt ($567/mt), increasing by RMB 22/mt ($3.1/mt) or up by 0.55 percent since November 29.
$1 = RMB 7.114