During the week ending May 22, average Chinese steel pipe export offer prices have moved up. At present, export offers for welded pipe given by Chinese suppliers are in the range of $560-570/mt FOB, moving up by $10/mt compared to May 15, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB for July shipment, increasing by $10/mt compared to May 15.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
575 |
+10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
575 |
+10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
690 |
+5 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
565 |
+10 |
During the given week, steel pipe prices in the Chinese domestic market have moved up amid the improved market sentiments following China’s issuance of stimulus policies to boost the weak real estate sector. Meanwhile, demand for steel pipes is expected to improve to a certain degree, which will exert a positive impact on prices. At the same time, iron ore prices have indicated an increasing trend, bolstering steel pipe prices from the cost side. Moreover, HRC futures prices have increased, providing some support for the steel pipe market. It is expected that steel pipe prices in the Chinese domestic market will edge up in the coming week.
As of May 22, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,910/mt ($531.5/mt), increasing by RMB 136/mt ($19.2/mt) or 3.6 percent since May 15, while up 1.19 percent compared to the previous trading day, May 21.
$1 = RMB 7.1077