Local Chinese steel pipe market mostly moves sideways

Thursday, 06 July 2017 16:15:30 (GMT+3)   |   Shanghai
       

Prices in the local Chinese steel pipe market are mostly at the same levels compared to one week ago.

As of July 6, 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 $657/mt (RMB 4,467/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $664/mt (RMB 4,517/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 $584/mt (RMB 3,973/mt) and $576/mt (RMB 3,920/mt) respectively. All the above prices include 17 percent VAT.

In the past week, Chinese domestic seamless pipe prices first increased with the support of higher prices in the raw material and futures markets, but then moved back down as trading activity had begun to slacken significantly and so traders decided to reduce their prices. Prices are now mostly at similar levels compared one week earlier. For the coming week, it is believed that domestic seamless pipe prices will mainly just indicate minor fluctuations, with a slight downtrend possible.

Local welded pipe prices in China have generally remained stable in the past seven days, though with slight downticks seen in prices of certain products. Overall trading activity has been slack following the sharp increases recorded in the previous week. While the relatively high price levels of steel strip and raw materials have provided support for welded pipe price, the weakness of demand has caused some traders to reduce their prices slightly. Traders are somewhat pessimistic and are trying to keep their inventories at low levels in order to avoid risks. As for the coming week, it is believed that welded pipe prices could fluctuate on a soft trend.

Product Name

Spec.

Category

City

Steel Plant/Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Seamless pipe

Φ108 mm x 4.5 mm

20# (GB/T8162-1999)

Shanghai

Wuxi

4,400

647

0

Guangzhou

Shandong

4,650

684

↑50

Beijing

Angang

4,350

640

0

Average price

-

4,467

657

↑17

Φ219 mm x 6 mm

20# (GB/T8163-1999)

Shanghai

Zhenda

4,500

662

0

Guangzhou

Angang

4,700

691

0

Beijing

Shandong

4,350

640

0

Average price

-

4,517

664

0

Welded pipe

Φ48 mm x 3.25 mm

Q195-Q215

Shanghai

Tangshan

4,030

593

0

Guangzhou

Guangzhou

4,020

591

↓30

Beijing

Jinghua

3,870

569

0

Average price

-

3,973

584

↓10

Ф114 mm x 3.75 mm

Q215-Q235

Shanghai

Huaqi

3,940

579

0

Guangzhou

Guangzhou

4,020

591

↓30

Beijing

Zengzhou

3,800

559

0

Average price

-

3,920

576

↓10

 

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

$1 = RMB 6.80


Similar articles

US rig count increases while Canadian count drops

15 Mar | Steel News

Liberty Pipes Hartlepool to supply line pipes for energy infrastructure development project

15 Mar | Steel News

Turkey’s Borusan Boru begins trial production at assets in Romania and US

15 Mar | Steel News

Mexico maintains AD duties on seamless steel pipe imports from four countries

14 Mar | Steel News

Local Chinese steel pipe prices follow downward trend

14 Mar | Tube and Pipe

US assigns zero preliminary dumping margin for circular welded pipe from Thailand

14 Mar | Steel News

Turkey’s Erciyas Çelik Boru’s sales revenues up 134.8% in 2023

13 Mar | Steel News

ArcelorMittal buys stake in France’s Vallourec

13 Mar | Steel News

US standard pipe imports down 17.9 percent in January

12 Mar | Steel News

US issues final AD margins for light walled rectangular pipes from Mexico

12 Mar | Steel News