During the week ending February 7, average Chinese steel pipe export offer prices have remained stable against the backdrop of the declining trend seen in HRC futures prices. At present, export offers for welded pipe given by Chinese suppliers are in the range of $590-610/mt FOB, moving sideways compared to January 31, while export offers for API 5L seamless pipe given by Chinese suppliers are at $600-610/mt FOB, April shipment, remaining unchanged compared to January 31.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
605 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
605 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
710 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
600 |
- |
During the given week, steel pipe prices in the Chinese domestic market have remained stable as the Chinese New Year holiday (February 9-17) is drawing closer. Most buyers are already on holiday, resulting in slack activity. At the same time, downstream construction sites have also halted activities ahead of the holiday. It is expected that steel pipe prices in the Chinese domestic market will remain stable in the coming week and will indicate a rebounding trend following the long holiday amid expectations of improved demand.
As of February 7, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,968/mt ($559/mt), decreasing by RMB 37/mt ($5.2) or 0.92 percent since January 31, while up 0.4 percent compared to the previous trading day (February 6).
$1 = RMB 7.1049