During the week ending April 17, average Chinese steel pipe export offer prices have continued their uptrend amid improved sentiments. At present, export offers for welded pipe given by Chinese suppliers are in the range of $560-570/mt FOB, rising by $10/mt compared to April 10, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, May shipment, increasing by $10/mt compared to April 10.
|
Product name |
Quality |
Spec. |
Price ($/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 |
705 |
+20 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
565 |
+10 |
During the given week, steel pipe prices in the Chinese domestic market have seen further increases amid rising HRC futures prices and decreasing inventory levels. Since coke prices have moved down, steel pipe producers’ profitability has improved, exerting a positive impact on prices. Demand for steel pipes has improved, though within a limited range, still positively affecting prices. It is expected that steel pipe prices in the Chinese domestic market will rise slightly in the coming week.
As of April 17, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,833/mt ($540/mt), increasing by RMB 92/mt ($13/mt) or 2.5 percent since April 10, while up 1.29 percent compared to the previous trading day, April 16.
$1 = RMB 7.1025