In the past week, the Chinese domestic steel pipe market has moved on a slight downtrend in terms of seamless pipe prices and has indicated a rebound for welded pipe prices.
As of October 23, 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 $581/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $610/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 $510/mt and $520/mt respectively. All the above prices include 17 percent VAT.
The local Chinese seamless pipe market has seen slight decreases for certain products during the past week. Overall trading activity is still slack, while higher billet prices have had a limited influence on the seamless pipe market. Most traders hold a negative view of the market prospects. As for next week, market prices may see slight fluctuations or move on a stable trend.
Chinese domestic welded pipe prices have continued to rise slightly during the past week, while trading activity is still not good. The main reason for the increase in welded pipe prices has been the rebound in steel strip prices. However, demand has continued to slacken. After the rebound, it is thought that domestic welded pipe prices may move on a stable trend in the coming week.