Local Chinese steel pipe market fluctuates slightly

The local Chinese steel pipe market has mostly just indicated slight fluctuations during the past week.
 
As of March 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 $670/mt (RMB 4,617/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $672/mt (RMB 4,633/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 $554/mt (RMB 3,820/mt) and $554/mt (RMB 3,816/mt) respectively. All the above prices include 17 percent VAT.
 
The local Chinese seamless pipe market has indicated minor fluctuations during the past seven days, with minor increases in some areas due to higher billet prices and due to slight increases in demand, while slight price reductions have been seen in other areas as traders have lowered their prices in order to attract business. Trading activity is at normal levels but is still not as good as it was in the same month last year. As for the coming week, further slight fluctuations in prices may be observed.
 
The Chinese domestic welded pipe market has moved on a slightly soft trend in the past week due to the influence of minor reductions in steel strip prices. Overall trade volume has been weak, especially due to bad weather in certain parts of the country. Market inventories are at high levels and so do not give any support to welded pipe price. As for the week ahead, it is expected that domestic welded pipe prices will continue to move on a slightly soft trend due to the slackness of trading activity.