In the Chinese steel
pipe market, prices have remained stable and the trading volume has been at minimal levels in the past week due to the approach of the Spring Festival holiday.
As of January 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 $688/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless
pipe at $726/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 $585/mt and $589/mt respectively. All the above prices include 17 percent VAT.
China's local seamless
pipe market has moved sideways during the past week. Most traders have halted their activities, while inventories in the market are at low levels. The market is expected to remain stable in the remaining week before the holiday.
Chinese domestic welded
pipe prices have also followed a stable trend in the past seven days, even though steel strip prices have softened slightly. As in the seamless
pipe market, most traders have already started their holidays. For the coming week, domestic welded
pipe prices in
China are likely to remain unchanged.