Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2020 | Welded steel tube & pipe


Substrate prices edge higher: Asia Market Analysis


Chinese API X65 LSAW (non-sour) pipe is now being quoted at $860/tonne fob – up $30/tonne month-on-month and in line with Indian fob prices that are unchanged.

Regional Asian mills pushed HR coil and plate substrate prices higher on the continued strength in the Chinese market, despite January being a quiet month for end-use demand. Chinese non-sour plate is firmly at $600/tonne fob and Japanese mills are looking for another $20/tonne at a minimum for non-sour while retaining the $100/tonne premium for sour.

With much of the region on extended holiday until early February, we do not expect any short-term changes in the price, but the bias is likely to be to the upside after Chinese New Year as Chinese mills in general are well-booked with extended lead times and are likely to push prices higher as they take orders for second quarter deliveries, which is often the peak for demand. That typically pushes regional prices higher as Chinese export volumes are limited. There is a risk that Chinese business confidence is hit by...

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