The Chinese domestic steel pipe market has mostly moved on a stable trend during the past seven days, but with some upticks seen too.
As of April 2, 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 $548/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $581/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 $438/mt and $445/mt respectively. All the above prices include 17 percent VAT.
The local Chinese seamless pipe market has mainly moved sideways in the past week, but with some slight increases observed also. Trading activity has improved a little due to the warmer weather but is still on the sluggish side. Recent increases in billet prices have also provided support for upticks in seamless pipe prices. As for the coming week, it is expected that Chinese seamless pipe prices will either move sideways or indicate minor increases.
The Chinese domestic welded pipe market has followed a stable trend in the past week, following the increases seen in the previous week. Trading activity is still slow despite having improved a little. Stock levels in the market are quite low, while traders are keeping their prices stable and are waiting for demand to pick up. Domestic welded pipe prices are expected to be mostly stable in the week ahead.