As of June 13, 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 $689/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $732/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 $602/mt and $606/mt. All the above prices include 17 percent VAT.
China's domestic seamless pipe market has followed a stable trend during the past week influenced by the Dragon Boat Festival holiday. Demand has remained weak, with trading activity still slack. Traders, most of whom hold a pessimistic view of the market, are maintaining their inventories at low levels in order to minimize risks. Overall, it is expected that China's seamless pipe market will fluctuate on a soft trend during the coming week.
The local Chinese welded pipe market has moved down slightly during the past week, amid weakness in prices of upstream materials, In particular, in the north of China steel mills have been finding it hard to keep their prices stable. Also, amid bad weather and funding pressure, activity in the construction industry is on the slow side. Overall, it is thought that China's domestic welded pipe market will remain on its slight downward trend during the coming week.