During the week ending October 9, average Chinese steel pipe export offer prices have moved up significantly. At present, export offers for welded pipe given by Chinese suppliers are in the range of $540-550/mt FOB, moving up by $40/mt compared to September 25, while export offers for API 5L seamless pipe given by Chinese suppliers are at $550-560/mt FOB, December shipment, moving up by $45/mt compared to September 18.
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
555 |
+45 |
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
555 |
+45 |
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
695 |
+55 |
Welded pipes |
Gr.B |
2’’-6’’ Std |
545 |
+40 |
During the given period, steel pipe prices in the Chinese domestic market have moved up sharply after China issued several stimulus policies. By the end of September, market sentiments improved significantly, exerting a positive impact on steel pipe prices in the Chinese domestic market. After the long National Day holiday, demand for steel pipe from downstream users has not seen significant improvements yet, reflecting the cautious stance of most market players currently. 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 October 9, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,571/mt ($505/mt), increasing by RMB 265/mt ($37.5/mt) or 8.0 percent since September 25, while down 3.56 percent compared to the previous trading day, October 8.
$1 = RMB 7.0568