As of March 21, 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 $727/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $764/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 $631/mt and $636/mt. All the above prices include 17 percent VAT.
China's domestic seamless pipe market has varied between stability and downward movement in the past week. The trading volume is low and traders are not so confident on the prospects for the market in the coming period. It is also observed that, while some mills are keeping their list prices stable, they are giving discounts in actual deals. It is believed that the local Chinese seamless pipe market will also vary between stability and downward movement in the coming week.
In the last few days, some slight upticks in prices have been observed in the Chinese domestic welded pipe market following previous decreases. The upticks in questions have been due to the influence of the rebound in the rebar futures market in recent days and it is thought that the trend of the rebar futures market will continue to exert an influence on the domestic welded pipe market in the days ahead. With the weather becoming warmer, it is hoped that demand in the Chinese welded pipe market, which has been slack, will soon improve.