As of July 18, 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 $694/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $735/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 $618/mt and $620/mt. All the above prices include 17 percent VAT.
Chinese domestic seamless pipe prices have mostly been stable in the past week, though there have been slight upticks in certain local markets, especially in the east of the country. The slight upward movements in prices were mainly due to low levels of stocks in the markets in question. Meanwhile, the trading volume in the overall market has slackened under the influence of the off-season for demand. It is thought that seamless pipe prices in China will generally move sideways in the coming week.
China's welded pipe market has maintained its upward trend during the past week. Under the impact of the hot weather in the east of the country and the stormy weather in the west, construction activity has decreased, negatively affecting demand for welded pipes. Nevertheless, domestic welded pipe prices have still continued their upward trend with the support of costs. It is believed that China's domestic welded pipe market will probably fluctuate within a small margin during the coming week, influenced by weather conditions and given the increases already witnessed in previous weeks.