In July of this year, Xinyue received a power platform construction project from an old African customer in cooperation with the local government. The product is seamless pipe with total weight of 105 tons, the product specification is API 5L PSL1 X65, 457.2*12.7*1200MM. High steel grade seamless pipe is our advantage products. At that time, due to insufficient US dollar reserves of the customer, the order was delayed in landing.

In the following months, the price of raw materials and the price of ocean freight continued to rise. Xinyue has also been regularly updating the market situation to its customers, and customers are also rushing to raise money after learning about the market situation. At the beginning of November, Xinyue received an email from a customer requesting to update the latest price, and then Xinyue and the customer discussed the relevant details of the contract on the phone. In order to avoid further price increases, it was also out of trust in Xinyue. The customer confirmed the contract on the same day.

At present, the tube is still in production, and Xinyue has also prepared various technical documents required by customers. In the production process, Xinyue will conduct strict technical review and supervision of each process. After the production is completed, Xinyue will also arrange a third party to conduct a re-inspection of the products to ensure the quality of Xinyue.

Written by Jason