During the week ending May 8, average Chinese steel pipe export offer prices have remained stable. At present, export offers for welded pipes given by Chinese suppliers are in the range of $560-570/mt FOB, moving sideways compared to April 24, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, July shipment, remaining unchanged compared to April 24.
|
Product name |
Quality |
Spec. |
Price ($/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 stable. Following the Labor Day holiday, some downstream users have built stocks, bolstering steel pipe prices. At the same time, coke prices have moved up, providing solid support for steel pipe prices from the cost side. However, on May 8, ferrous metal futures prices moved decreased, which may negatively affect market sentiments. It is expected that steel pipe prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of May 8, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,808/mt ($536/mt), decreasing by RMB 27/mt ($3.8/mt) or 0.7 percent since April 24, while down 1.63 percent compared to the previous trading day, May 7.
$1 = RMB 7.1016