Chinese pipe market price showed a fluctuating up and down trend 

During the past week, prices in the local Chinese steel pipe market have followed different trends.

As of August 31 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 $811/mt (RMB 5,350/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $808/mt (RMB 5,333/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 $684/mt (RMB 4,517/mt) and $680/mt (RMB 4,487/mt) respectively. All the above prices include 17 percent VAT.

The Chinese seamless pipe market price has recorded a slight upward trend in past seven days, since upstream billet prices has fluctuated upwards. However, trading activity in the market has been weak amid weak demand from downstream users. As for next week, it is believed that seamless pipe may continue to fluctuate in an upward direction.

In the past week, the local Chinese welded pipe market has followed diverse trends, while overall trading activity was slack. Prices in the market have decreased in line with the downward movement of raw material and steel strip prices in Chinese futures and spot markets. However, the prices have started to increase recently amid the National Athletic Games being held at Tianjin and since production volumes have decreased significantly due to environment issues. As for next week, it is believed that the welded pipe market price may keep fluctuating trend.

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

$1 = RMB 6.60