The Chinese domestic steel
pipe market has mostly moved on a stable trend in the past week, though with some slight decreases also observed.
As of August 28, in
China's three main steel markets, i.e., Shanghai, Guangzhou and Beijing, the average price of 20# (GB/T8162-1999) grade 108 mm x 4.5 mm seamless
pipe now stands at $624/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless
pipe at $651/mt. Meanwhile, on the same date, Q195-215 grade 48 mm x 3.25 mm welded
pipe and Q215-235 grade 114 mm x 3.75 mm welded
pipe prices in the above markets are standing at $543/mt and $550/mt respectively. All the above prices include 17 percent VAT.
In the past seven days,
China's domestic seamless
pipe market has generally followed a stable trend, with slight decreases seen in certain local markets. Overall trading activity is still slack. Billet prices have softened slightly, while downstream demand is still weak. Most traders are seeking to keep their prices stable in the current off-season. As for the coming week, it is believed that prices are unlikely to move up in the present situation, and will mainly remain stable, with some minor downticks also.
The trend in the local Chinese welded
pipe market in the past week has been similar to that in the seamless
pipe market - mostly stable but with some slight decreases in certain local markets also. The minor decreases in steel strip prices has caused some welded
pipe traders to reduce their quoted prices by a slight margin. Overall trading activity is still sluggish, but at the same time inventories are at low levels. Traders are trying to avoid risks and are generally purchasing only to meet orders they have already received. In the week ahead, welded
pipe prices in
China are expected to remain mostly stable.