Local Chinese steel pipe market indicates rising trend

The local Chinese steel pipe market has mostly followed an upward trend during the past week.

 

As of June 15, 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 $618/mt (RMB 4,200/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $637/mt (RMB 4,333/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 $544/mt (RMB 3,697/mt) and $538/mt (RMB 3,660/mt) respectively. All the above prices include 17 percent VAT. 

The local Chinese seamless pipe market has mainly indicated a rising trend during the past week amid higher billet prices, though demand in the market has remained sluggish. As for the coming week, it is believed that domestic seamless pipe prices will just indicate slight fluctuations. 

The Chinese domestic welded pipe market has moved on an upward trend during the past week with the support of higher steel strip prices, though price increase margins for welded pipe have varied according to different regions in line with demand levels. Demand in the south of the country has increased strongly, while demand in the east has been weak, with demand in the north of China at normal levels. It is thought that domestic welded pipe prices may continue to follow an upward trend in the week ahead with support from steel futures prices and prices of steel strip. 

 

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

 

$1 = RMB 6.80