As of January 24, 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 $722/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $764/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 $635/mt and $643/mt. All the above prices include 17 percent VAT.
China's seamless pipe market has mainly followed a stable trend during the past week. Although domestic billet prices have softened slightly, the influence of this on the seamless pipe market has been quite limited. With little time left before China's Spring Festival holiday, prices are now unlikely to see major changes. In addition, some pipe producers have started their holiday early. For the coming week, China's seamless pipe market is expected to move sideways.
China's welded pipe market has also mostly been stable in the past week. With the influence of the slight decline in steel strip prices, a limited number of local welded pipe markets in China also witnessed very minor price decreases. Meanwhile, the trading volume in the market is very low. The overall stable trend in the market is expected to continue until the end of the holiday.