As of August 16, 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 $727/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless
pipe at $777/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 $618/mt and $622/mt. All the above prices include 17 percent VAT.
The Chinese domestic seamless
pipe market has mainly followed a downward trend during the past week. Demand is low, while billet producers have continued to reduce their prices. Meanwhile, traders' profits are limited. Seamless
pipe prices in
China are expected to fluctuate downward in the coming week, amid lower upstream costs.
Welded
pipe prices in most Chinese cities have softened in the past week, against a background of lower costs of steel strip and poor demand in the market. However, traders believe current prices are reasonable and that there is a low possibility of further decreases. Rebuilding work after the recent typhoon which hit eastern
China may contribute to improved demand in certain markets. The welded
pipe market in
China is expected to vary between stability and slight decline in the coming week.