During the week ending July 24, average Chinese steel pipe export offer prices have edged down. At present, export offers for welded pipe given by Chinese suppliers are in the range of $490-500/mt FOB, moving down by $10/mt compared to July 17, while export offers for API 5L seamless pipe given by Chinese suppliers are at $500-520/mt FOB, for October shipment, decreasing by $10/mt compared to July 17.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
510 |
-10 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
510 |
-10 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
635 |
-10 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
495 |
-10 |
During the given week, steel pipe prices in the Chinese domestic market have edged down amid prevailing bearish sentiments due to the slack demand from downstream users. The hot weather has exerted a negative impact on market sentiments. Traders have chosen to sell at lower prices, aiming to bring in cash and reduce inventory levels. It is thought that steel pipe prices in the Chinese domestic market may move sideways in the coming week.
As of July 24, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,573/mt ($501/mt), decreasing by RMB 95/mt ($13/mt) or 2.6 percent since July 17, while down 1.08 percent compared to the previous trading day, July 23.
$1 = RMB 7.1358