The Chinese domestic steel pipe market has mostly moved on a stable trend during the past seven days.
As of March 19, 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 $546/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $578/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 $424/mt respectively. All the above prices include 17 percent VAT.
The Chinese domestic seamless pipe market has mainly followed a sideways trend during the past week, following the decreases seen in the previous week. Overall trading activity has improved slightly but remains on the sluggish side. Upticks in billet prices have provided strong support for seamless pipe prices. Some pipe producers are under pressure from their high stock levels. For the coming week, it is believed that the market trend will remain mostly stable, though traders may offer certain discounts in order to attract deals.
The local Chinese welded pipe market has mostly followed a stable trend in the past week, though with slight price decreases seen for certain products. Since trading activity is still slack, some traders have chosen to slightly reduce their welded pipe prices in order to attract demand, despite support from steel strip prices. The local welded pipe market is expected to follow a mainly stable trend in the coming week.