Chinese domestic steel pipe market mostly stable with some upticks

The local Chinese steel pipe market has mostly moved sideways during the past week, though with some minor increases in prices also observed.
 
As of August 11, 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 $520/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $535/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 $458/mt and $463/mt respectively. All the above prices include 17 percent VAT.

The Chinese domestic seamless pipe market has mainly followed a stable trend in the past seven days, with some slight upticks also seen in prices. Overall trading activity is still at low levels, with most traders maintaining a wait-and-see stance. Upstream billet prices have remained stable. As for the coming week, it is believed that domestic seamless pipe prices may be characterized by minor fluctuations with some minor rises in prices possible.
 
Chinese domestic welded pipe prices have also mostly been stable in the past week with some slight upticks. Overall trading activity has been slack due to hot weather and supply volumes have been at low levels. Upstream steel strip prices have edged up slightly. As regards the week ahead, it is expected that local welded pipe prices will mostly follow a stable trend. 

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.64