During the week ending May 29, average Chinese steel pipe export offer prices have moved down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $550-560/mt FOB, decreasing by $10/mt compared to May 22, while export offers for API 5L seamless pipe given by Chinese suppliers are at $560-570/mt FOB, July shipment, declining by $10/mt compared to May 22.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
565 |
-10 |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
565 |
-10 |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
685 |
-5 |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
555 |
-10 |
During the given week, steel pipe prices in the Chinese domestic market have indicated a decreasing trend amid the prevailing cautious sentiments among market players. Inventory of steel pipe has been at a relatively high level, exerting a negative impact on prices. Recently, though China has issued several stimulus policies to bolster the real estate sector, ferrous metal futures prices have decreased, negatively affecting the steel pipe market. It is thought that steel pipe prices in the Chinese domestic market will likely move sideways in the coming week.
As of May 29, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,879/mt ($545.5/mt), decreasing by RMB 31/mt ($4.4/mt) or 0.8 percent since May 22, while down 0.21 percent compared to the previous trading day, May 28.
$1 = RMB 7.1106