Chinese pipe prices see small fluctuations

The local Chinese steel pipe prices have showed a stable trend with slight fluctuations during the past week.

Chinese seamless pipe prices have slightly fluctuated during the past week. Overall trading activity has slightly increased after national holiday period. Certain areas have still been influenced by public health measures which lead demand to remain weak. Upstream billet prices recently showed a fluctuations with upticks which give certain support to seamless pipe prices. As for the week ahead, considering the recovery of demand and support from cost, it is believed that seamless pipe prices may see fluctuations with slight upward trend.

Chinese welded pipe prices have increased first, and then declines, remaining almost at the same level compared to before holidays. Upstream steel prices increased and inventory level mostly remained low which lead traders to increase their prices. However since trading activity is weak, most traders choose to reduce their prices again. As for the week ahead, considering the support from cost side still exists and demand may see a recovery, it is believed that welded pipe prices may see slight upticks.

Seamless pipe prices

All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 7.110