Some slight upticks observed in local Chinese steel pipe prices

The local Chinese steel pipe market has risen slightly during the past week, with some prices also remaining stable.
 
As of September 29, 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 $495/mt (RMB 3,300/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $510/mt (RMB 3,400/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 $422/mt (RMB 2,817/mt) and $423/mt (RMB 2,820/mt) respectively. All the above prices include 17 percent VAT.
 
The local Chinese seamless steel pipe market has mostly moved on a stable trend in the past week, with slight increases also seen in certain product prices. Overall trading activity has improved and is now at normal levels. Shortages of supply have provided support for prices. It is believed that local seamless steel pipe prices will remain stable during the coming National Day Holiday (October 1-7) and also for a while afterwards.

In the past week, the Chinese domestic welded pipe market first moved down but then rebounded, with prices now slightly higher compared to one week ago. Overall trading activity has remained weak. Upstream steel strip prices have increased, while road transportation costs have also risen, with both these factors contributing to the increase in welded pipe prices. With the holiday approaching, trade activity is expected to slacken further. Domestic welded pipe prices will move sideways during the holiday period and will likely just indicate slight fluctuations after the holiday.

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.67