On March 15, 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 $811/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $845/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 $702/mt and $711/mt. All the above prices include 17 percent VAT.
The Chinese seamless pipe market has been generally stable in the past one week, though some slight upward movement was recently observed on the lower end of the market price ranges, while traders express hope for the prospects for the market in the coming period. Meanwhile, feedstock prices provide stong support for the market. The trading volume this week has been below normal. Despite optimism for the future, no big rebound in prices is predicted for the short term.
The Chinese welded pipe market has been influenced by warmer weather, which has contributed to improved demand. Some traders say their low price sales strategies are working fairly well. Meanwhile, prices of feedstock have been on the rise, while market inventory levels are not high. Welded pipe prices in China are expected to move up in the short term.