As of September 26, 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 $700/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $735/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 $613/mt and $624/mt. All the above prices include 17 percent VAT.
Chinese domestic seamless pipe prices have continued their stable trend during the past week, while trading activity has been slow due to the Mid-Autumn Festival and also given the approach of the National Day holiday. Although billet prices have been characterized by softness, this has had little impact on local seamless pipe prices since it is already near the end of month and the National Day holiday takes place next week, and so traders are no long so interested in building up stocks. Meanwhile, ahead of the holiday, traders have been inclined to offer certain discounts in order to attract more deals. In the coming week, a slight decrease may be witnessed in transaction prices in the local Chinese seamless pipe market.
The Chinese domestic welded pipe market has continued its downward trend during the past week. Influenced by decreases in steel strip prices, welded pipe producers have reduced their quoted prices. In the meantime, trading activity has been slow and traders have had to reduce their prices in order to boost sales, and also with the aim of reducing inventory before next week's holiday. As for the future, traders still lack optimism. It is thought that domestic prices of welded pipes in China will maintain their soft trend in the coming week.