During the week ending April 24, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $560-570/mt FOB, remaining stable compared to April 17, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, May shipment, moving sideways compared to April 17.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
575 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
575 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
705 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
565 |
- |
During the given week, steel pipe prices in the Chinese domestic market have remained unchanged as demand from downstream users has improved slightly, though market players have been waiting for prices to rise. Stocks of steel pipes have been consumed steadily, bolstering prices to a certain degree. However, ferrous metal futures prices have fluctuated, affecting the steel pipe market. As the Labor Day holiday (May 1-5) is approaching, some market participants think downstream users may replenished their stocks, which will exert a positive impact on steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of April 24, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,835/mt ($540/mt), increasing by RMB 2/mt ($0.28/mt) or 0.05 percent since April 17, while up 0.45 percent compared to the previous trading day, April 23.
$1 = RMB 7.1048