July 2011 | Welded steel tube & pipe
Chinese domestic prices off the bottom: Asia Market Analysis
On the export front, Chinese mills are now looking for $800-950/tonne fob for API pipe with X52 now up to around $900-920/tonne fob.
Chinese HR coil prices have picked up somewhat in the last couple of weeks and welded tubular mills have shown no hesitation in passing on those increases. In the local market, prices have tracked HR coil very closely and this was on a downtrend through late June, but has since revived in early-mid July. 4” standard ERW is now available for RMB5,100/tonne in the Shanghai market (around $665/tonne ex-VAT). The rebound however is not particularly solid and the market remains vulnerable to over-supply and discounting.
Export prices follow trend
On the export front, Chinese mills are now looking for $800-950/tonne fob for API pipe with X52 now up to around $900-920/tonne fob. Buyers are mainly located in the Middle East and Latin America – unchanged from the last few months. While total Chinese welded export volumes have continued to decline in the last few months, Chinese...
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