During the week ending January 3, average Chinese steel pipe export offer prices have seen rises. At present, export offers for welded pipe given by Chinese suppliers are in the range of $590-620/mt FOB, moving up by $15/mt compared to December 27, while export offers for API 5L seamless pipe given by Chinese suppliers are at $600-620/mt FOB, March shipment, increasing by $10/mt compared to December 27.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
610 |
+10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
610 |
+10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
710 |
+20 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
605 |
+15 |
During the given week, steel pipe prices in the Chinese domestic market have seen rises amid the production restrictions on steel pipe producers’ side due to the strict environmental protection measures in northern China. Recently, construction sites suspended their activities for the New Year holiday, exerting a negative impact on the demand for steel pipe. Meanwhile, iron ore prices have seen continuous increases, bolstering steel pipe prices from cost side. However, one of megacities in China, Shanghai issued further stimulus policies to boost the real estate market, which will positively affect market sentiments. It is thought that steel pipe prices may indicate further rises in the coming week.
As of January 3, HRC futures at the Shanghai Futures Exchange are standing at RMB 4,160/mt ($586/mt), increasing by RMB 23/mt ($3.2) since December 27, while which saw a rise of 0.63 percent compared to the previous trading day (January 2).
$1 = RMB 7.1002