The Chinese domestic steel
pipe market has generally been characterized by a soft trend during the past seven days, though with some prices also moving sideways.
As of March 5, 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 $551/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless
pipe at $583/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 $423/mt and $430/mt respectively. All the above prices include 17 percent VAT.
In the past week, Chinese domestic seamless
pipe prices have either moved sideways or indicated slight declines. Trading activity has been slow to resume after the holiday. Traders are still seeking to sell stocks bought last year. Given the weak demand situation, it is thought that further room still exists for the downward movement of local seamless
pipe prices.
Chinese domestic welded
pipe prices have moved on a downward trend in the past week amid very slow trading activity. Buyers from the downstream construction sector are expected to be back in the market next week. Traders have had to reduce their prices in order to attract deals. As for the coming week, it is believed that the downward price trend will continue, but with smaller decrease margins.