Chinese pipe prices continue to fluctuate slightly

Local Chinese steel pipe prices have continued to fluctuate slightly during the past week.

Overall trading activity in the local Chinese seamless pipe market has been at a normal level. Certain traders have preferred to reduce their quoted prices slightly in order to close more deals. Upstream billet prices have fluctuated slightly upwards, which has pushed some market prices slightly up. Demand has continued to be influenced rainy or hot weather and has been at a weakness level. It is believed that seamless pipe prices may continue to fluctuate in small margin in the coming week.

In the same period, Chinese welded pipe prices have showed a mostly stable with slightly downwards trend. Trading activity has been weak due to impact of bad weather on construction activities. Upstream steel strip prices have increased though traders mostly have not been willing to increase their quoted prices in order to close more deals. As for the week ahead, considering the weakness of demand, it is believed that welded pipe prices may decrease further slightly.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.927