Both seamless and welded steel pipe prices in China have followed a downtrend in the past week amid ongoing sluggishness of demand.
On May 31, 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 $807/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $844/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 $665/mt and $675/mt. All the above prices include 17 percent VAT.
China's domestic seamless pipe market has moved on a slight downward trend during the past week, amid slack demand and decreases in prices of upstream materials. Traders state that the volume of inquiries has increased, though actual seamless pipe transactions have remained scarce. Most traders still lack confidence about the future trend of the market. It is expected that the slight downward trend will continue in the coming week week also.
Welded pipe prices in the main Chinese cities have fluctuated in a downward direction in the past week, while demand has remained low. At present, demand appears unlikely to indicate a rebound. Although steel strip prices have become more stable or even rebounded a little during the current week, this has not yet impacted the trend of the domestic welded pipe market. The domestic welded pipe market may vary between stability and slight weakness of prices in the coming seven days.