Chinese pipe prices see strong rise

The local Chinese steel pipe prices have continued to see a strong upward trend during the past week.

Chinese seamless pipe prices have followed a strong upward trend during the past week. Overall trading activity has first increased, then weakened. Upstream billet prices and other raw material prices have maintained an uptrend, mainly causing seamless pipe traders and producers to follow. However, most traders are cautious and not willing to build up stock. For the coming week, considering the weak demand and support from the cost side, it is believed that seamless pipe prices are likely to follow a fluctuating trend at high levels.

Chinese welded pipe prices have also indicated a sharp increase during the past week. Overall trading activity has been weak as downstream industries are worried that prices are going up too fast. Upstream steel strip and other raw material prices also continued to see a strong upward trend which lead welded pipe prices to follow. As for the week ahead, considering the strong support from raw material, it is believed that welded pipe prices may indicate fluctuations. 

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT. 

$1 = RMB 6.5361