As of November 18, 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 $840/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $882/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 $738/mt and $740/mt. All the above prices include 17 percent VAT.
The welded pipe markets in China's main cities have fluctuated on a slightly weak trend in the past week, while trading volumes have remained low. After two months of decline, prices now appear closer to the bottom and are likely to soon start following a sideways trend. Meanwhile, traders with low inventory are expected to start replenishing activity soon.
The seamless pipe market in China has been mostly stable in the past week, though the market in the north has declined slightly. Meanwhile, billet prices are indicating greater stability, At the same time, a wait-and-see stance towards the market is increasingly common among traders.