During the week ending August 21, 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 $470-480/mt FOB, moving sideways compared to August 14, while export offers for API 5L seamless pipe given by Chinese suppliers are at $480-500/mt FOB, for October shipment, remaining stable compared to August 14.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
490 |
- |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
490 |
- |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
615 |
- |
Welded pipes |
Gr.B |
2’’-6’’ Std |
475 |
- |
During the given week, steel pipe prices in the Chinese domestic market have moved sideways following previous declines. Demand for steel pipe has remained slack, while ferrous metal futures prices posted big increases on August 21, signaling possible improvements in the near future. Seamless steel pipe producers have implemented some production halts, while inventories have not declines significantly yet. Traders have been unwilling to build up high levels of stock, weakening the support for steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will likely rebound in the coming week.
As of August 21, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,312/mt ($465/mt), increasing by RMB 66/mt ($9.3/mt) or 2.0 percent since August 14, while up 3.79 percent compared to the previous trading day, August 20.
$1 = RMB 7.1307