Local Chinese steel pipe market moves on soft trend

The local Chinese steel pipe market has followed an overall downward trend during the past seven days. 

 

As of September 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 $464/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $469/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 $359/mt and $365/mt respectively. All the above prices include 17 percent VAT. ($1 = RMB 6.4)

 

The local Chinese seamless pipe market has moved on a slight downward trend in the past week, while trading activity remains weak. At the same time, on the upstream side, billet prices have also been characterized by a soft trend. Seamless pipe traders have reduced their prices slightly in order to attract business. Most traders are downbeat on the future prospects for the market. It is believed that the slight downtrend in the market may continue ahead of the Chinese National Day Holiday (October 1-7).

 

The Chinese domestic welded pipe market has declined during the past week. Demand is still slack, but trading activity has improved somewhat compared to July and August due to the slight decreases in traders’ prices. As for the coming week, welded pipe prices may move sideways or even rise slightly amid improved downstream demand and the greater stability of steel strip prices.

 

 

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

 

$1 = RMB 6.38