In the past week, China's steel pipe market has continued to be characterized by soft prices and slack demand.
As of May 10, 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 $829/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $859/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 $693/mt and $700/mt. All the above prices include 17 percent VAT.
The Chinese seamless pipe market has witnessed slight decreases in prices in certain cities in the past week, while price stability has been seen in other areas. Weak demand has been exerting a strong influence on the market. Many traders are maintaining a wait-and-see stance. A small downward movement is predicted for the coming seven days.
Welded pipe prices in China have softened during the past week. Amid slackness of demand, it is difficult for market players to be positive and so traders are generally maintaining a cautious approach. At the same time, many traders have liquidity problems at the moment. The weak trend in China's seamless pipe market is expected to continue in the short term.