Chinese steel pipe market shows a fluctuating trend

As of October 25, 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 $698/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $749/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 $640/mt and $647/mt. All the above prices include 17 percent VAT.
 
China's seamless pipe market has seen a steady trend during last week, with low trade volume and traders trying to increase sale and collected cash. As for the coming period, most traders believe that, pipe prices will not show a big scale of increasing or drop, while the seamless pipe market will hold the stable trend in next week.
 
The welded pipe showed a fluctuaing trend during last week also with the influence of upstream material prices' shaking. Experts said now the relation between traders and pipe mills are very complex, the mills are limited by the material price shaking so they are not willing to purchase steel strip in a large amount.  Meanwhile, traders are hold positive opinion about future trend, while they are willing to purchase the welded pipe. Now the supply less compared to demand in the market. However, the welded pipe market is expected to have a stable and upward trend during next week.