During the past seven days, the local Chinese steel pipe market has mostly moved on a stable trend with some slight decreases observed also.
As of May 7, 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 $540/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $559/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 $417/mt and $425/mt respectively. All the above prices include 17 percent VAT.
Domestic seamless pipe prices have mainly moved sideways with some minor downticks seen also during the past week. Overall trading activity is still at low levels. Traders are not confident about the future price trend and are keeping their inventories low for now. The seamless pipe market is expected to continue the same trend in the week ahead.
In the past week, the local Chinese welded pipe market has also followed a mostly stable trend with slight decreases in prices of certain products. Overall trading activity has not improved, remaining sluggish, while traders have been offering some discounts to try to attract demand. The stable trend of upstream steel strip prices is the main factor providing support for the market. For the coming week, domestic welded pipe prices are expected to follow a mainly stable trend.
Product Name Spec. Category City Steel Plant/Origin Price (RMB/mt) Price ($/mt) Weekly Change (RMB/mt) Φ108 mm x 4.5 mm 20# (GB/T8162-1999) Shanghai Wuxi 3,150 507 0 Guangzhou Shandong 3,650 588 ↓100 Seamless pipe Beijing Angang 3,250 523 0 Average price - 3,350 539 ↓33 Φ219 mm x 6 mm 20# (GB/T8163-1999) Shanghai Zhenda 3,250 523 0 Guangzhou Angang 3,800 612 ↓50 Beijing Shandong 3,350 539 0 Average price - 3,467 558 ↓17 Welded pipe Φ48 mm x 3.25 mm Q195-Q215 Shanghai Tangshan 2,530 407 0 Guangzhou Guangzhou 2,650 427 0 Beijing Jinghua 2,570 414 ↓30 Average price - 2,583 416 ↓10 Ф114 mm x 3.75 mm Q215-Q235 Shanghai Huaqi 2,700 435 ↓30 Guangzhou Guangzhou 2,650 427 0 Beijing Zengzhou 2,550 411 ↓30 Average price - 2,633 424 ↓20
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21