In the past week, the Chinese domestic steel pipe market has moved on a mostly stable trend in terms of seamless pipe prices, while welded pipe prices have softened slightly.
As of April 16, 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 $426/mt and $435/mt respectively. All the above prices include 17 percent VAT.
The local Chinese seamless pipe market has followed a stable trend during the past seven days. With the weather getting warmer, trading activity has also been improving. Traders have been keeping their stocks at low levels, while the sideways movement of billet prices has contributed to the stability of seamless pipe prices. The trend of domestic seamless pipe prices is expected to be mostly stable in the coming week.
Prices have softened in China's domestic welded pipe market in the past week. Decreases in upstream steel strip prices and low trading activity are the main reasons for the soft trend in the market, though trading activity has picked up slightly following the downticks recorded by welded pipe prices. The local welded pipe market is expected to move on a slight downtrend in the week ahead.