China's overall steel pipe market, for both welded and seamless pipe, has maintained it downward movement in the past week.
As of August 9, 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 $735/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $785/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 $621/mt and $633/mt. All the above prices include 17 percent VAT.
Influenced by the downward trend of upward costs and slack demand, China's domestic seamless pipe market has continued its declining movement in the past week. Meanwhile, traders are still cautious, which contributes to the sluggishness of demand. It is expected that the downward trend in the seamless pipe market will continue also in the coming week.
China's domestic welded pipe market has also declined further under the influence of low demand and softening upstream prices. There is strong competition between traders in the market, which is expected to decline further in the coming seven days.