The Chinese domestic steel pipe market has witnessed a stable trend for seamless pipe prices and a slight downtrend for welded pipe prices in the past week.
As of October 9, 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 $594/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $624/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 $498/mt and $511/mt respectively. All the above prices include 17 percent VAT.
The Chinese domestic seamless pipe market has moved on a stable trend in the past week, with traders keeping their prices unchanged amid slow trading activity and negative sentiment. However, it is predicted that the domestic seamless market may follow a soft trend during the rest of October, with a slight downtrend foreseen for the coming week.
The local Chinese welded pipe market has been characterized by a slightly soft trend during the past week. Some traders reduced their prices after the holiday, but failed to see any improvement in the sluggish demand situation. Traders have also been keeping their inventories at low levels. For the coming week, the domestic welded pipe market is expected to remain on a weak trend.