Local Chinese steel pipe market mostly moves on slightly soft trend

The local Chinese steel pipe market has seen some slight downticks in prices in the past week.  
 
As of May 19 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 $497/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $516/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 $405/mt and $411/mt respectively. All the above prices include 17 percent VAT. ($1 = RMB 6.4)
 
The Chinese domestic seamless pipe market has been mostly stable in the past seven days, but with slight decreases also seen. Overall trading activity remains weak. Upstream billet prices have also decreased but by smaller margins compared to the previous few weeks. Traders hold a negative view and are trying to sell as much as possible. It is believed domestic seamless pipe prices will be characterized by a slightly soft trend in the coming week.
 
The local Chinese welded pipe market has moved on a slight downtrend in the past week. The trading volume is low. Downstream buyers are holding a wait-and-see stance although traders have reduced prices and are willing to offer more discounts. Overall, it is thought that the welded pipe market will continue its soft trend during the coming week.

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.54