During the week ending April 3, average Chinese steel pipe export offer prices have moved sideways amid the prevailing cautious sentiments. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-560/mt FOB, remaining stable compared to March 27, while export offers for API 5L seamless pipe given by Chinese suppliers are at $550-560/mt FOB, May shipment, also moving sideways compared to March 27.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
555 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
555 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
685 |
0 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
550 |
- |
During the given week, steel pipe prices in the Chinese domestic market have remained unchanged. HRC futures prices have seen ups and downs in the given week, affecting market players’ sentiments. Market players have been cautious in concluding purchases of steel pipes, with most traders choosing to stop booking orders to avoid potential risks. However, some specifications are in short supply, which will provide some support for steel pipe prices. It is expected that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of April 3, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,659/mt ($515/mt), decreasing by RMB 58/mt ($8.2/mt) or 1.6 percent since March 27, while down 0.79 percent compared to the previous trading day, April 2.
$1 = RMB 7.0949