The Chinese domestic steel pipe market has on average witnessed slight downticks in prices of both seamless pipes and welded pipes market in the past seven days.
As of July 10, 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 $650/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $685/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 $559/mt and $566/mt respectively. All the above prices include 17 percent VAT.
On average, prices in the local Chinese seamless pipe market are slightly lower compared to one week ago, though some small upticks have been seen in the southern market on the back of an improvement in trading activity in the region. However, in most parts of China, the demand volume is still at very low levels and the price trend has remained soft. It is believe that the market trend may be uneven in the coming period, depending on differences in weather conditions and demand between the various regions of the country. For the coming week, the domestic seamless pipe market is expected to see slight fluctuations on a mostly soft trend.
The Chinese domestic welded pipe market has on average softened slightly week on week. Steel strip prices rose by a small margin at the beginning of this week, causing a small rise in welded pipe prices. However, as downstream demand slackened even further, traders reduced their pipe prices again. Due to hot or rainy weather conditions, it is thought that demand is unlikely to improve. As for the coming week, the domestic welded pipe market may continued to be characterized by a slightly soft trend.