In the past week, the Chinese steel pipe market has generally been stable, though some small increases have been witnessed in certain areas.
As of March 23, 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 $817/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $849/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 $707/mt and $712/mt. All the above prices include 17 percent VAT.
The seamless pipe market in China has generally been stable in the past week, though with a slight upward trend seen in some areas. Demand has rebounded a little. Inventory pressure is currently not strong and traders are maintaining a wait-and-see stance. With downstream demand improving, traders may raise their prices somewhat in the short term.
The domestic welded pipe market in China has lately been supported by raw material costs, though demand, while improving, is still on the sluggish side. In the given week, China's welded pipe market has mainly been characterized by stability, while small price rises have been seen in some parts of the country. It is thought that a similar trend will be seen in the coming week.