As of February 28, 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 $730/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $772/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 $633/mt and $640/mt respectively. All the above prices include 17 percent VAT.
China's domestic seamless pipe market has mostly moved on a stable trend in the past week, though prices have moved up slightly in some areas. Prices are generally considered to be high enough after previous increases, while the trading volume has failed to impress. Billet prices have risen slightly during the past week, though the trading volume has been exerting a greater influence on the price trend. It is thought that China's seamless pipe market may continue its stable trend during the coming week.
China's welded pipe market has moved down slightly over the past week. It is believed the lower feedstock prices have influenced the welded pipe price trend. In addition, downstream demand is slack and traders have to reduce their prices in order to increase their trading volumes. In the short term, the Chinese domestic welded pipe market will likely continue to indicate a soft trend.