The local Chinese steel
pipe market has mostly moved on a downward trend during the past week.
As of March 12, 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 $418/mt and $425/mt respectively. All the above prices include 17 percent VAT.
Prices in the Chinese domestic seamless
pipe market have been either stable or have decreased slightly in the past seven days, while trading activity and downstream demand are at very low levels. Traders are cautious and are generally maintaining a wait-and-see stance. Some traders have chosen to reduce their prices in order to attract sales. Overall, the domestic seamless
pipe market is expected to follow a similar trend in the coming week.
The local Chinese welded
pipe market has moved on a downward trend during the past week. The trading volume is quite low, causing traders to reduce their prices by small margins. Downstream demand is still weak. As for the week ahead, the market is expected to continue its downward movement.