Chinese pipe market price show upward trend

The local Chinese steel pipe market  has shown upward trend in the past seven days.   

As of July 7 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 $448/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $471/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 $406/mt and $413/mt respectively. All the above prices include 17 percent VAT. 

Chinese seamless pipe market price showed an upward trend in past week. The overall trade volume still remains weakness. The upstream billet price got increased was the main reason for seamless pipe price growing up. Downstream still hold a wait and see stance and not plan to build any large amount of stock. So for next week, experts believe the seamless pipe price may back to a fluctuating trend even to slightly decrease. 

Chinese welded pipe market price got an upward trend in last week. The hot weather still cause the low trade volume. Steel strip got an upward trend as well as pipe producers’ quoted price. Traders are not interested in the high price unless they have already made deal with downstream. Experts believe that there may have certain risk that the welded price may reduce in next week due to low trade volume.

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

 

$1 = RMB 6.69