Activity improves in local Chinese steel pipe market

The local Chinese steel pipe market has for the most part moved on a slight uptrend during the past week.

As of March 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 $669/mt (RMB 4,617/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $671/mt (RMB 4,633/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 $563/mt (RMB 3,883/mt) and $564/mt (RMB 3,893/mt) respectively. All the above prices include 17 percent VAT. ($1 = RMB 6.87)

 

The Chinese domestic seamless pipe market has seen some stable movement of prices in the past seven days, though some traders have reduced their prices slightly in order to attract more business, while other traders have raised their prices slightly on the back of higher billet prices. Overall trading activity has increased a little but is still at normal levels. It is thought that domestic seamless pipe prices will mainly move sideways in the coming week, with some slight increases also possible.

 

The local Chinese welded pipe market has seen slight increases in prices during the past week, while overall trading activity has improved and is now at normal levels. Increases in prices of steel strip and billet as well as the recovery of downstream activity have provided support for the upticks in welded pipe prices. As for the coming week, it is believed that welded pipe prices will continue to move on a slight uptrend. 

 

 

17 percent VAT is included in all prices and all prices are ex-warehouse.

 

$1 = RMB 6.90