Fluctuations in local Chinese steel pipe market

Thursday, 11 May 2017 17:30:04 (GMT+3)   |   Shanghai
       

Prices in the local Chinese steel pipe market have fluctuated during the past week.
 
As of May 11, 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 $606/mt (RMB 4,183/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $628/mt (RMB 4,333/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 $513/mt (RMB 3,537/mt) and $511/mt (RMB 3,523/mt) respectively. All the above prices include 17 percent VAT.
 
Overall trading activity has remained sluggish in the local Chinese seamless pipe market in the past seven days. In the early part of the week, the market moved on a soft trend under the influence of decreases in raw material futures prices, but later in the week the market recovered to previous levels amid increases in iron ore prices. Traders are reluctant to build up stocks amid the currently volatility of raw material prices. As for the coming week, it is believed that the seamless pipe market may fluctuate on a slightly soft trend. 
 
In the past week, the Chinese domestic welded pipe market initially moved down before switching to an upward trend later in the week, due to the impact of fluctuating raw material prices. Welded pipe prices are down slightly compared to one week ago, while demand is at low levels due to the impact of price volatility and hot weather condition in some parts of the country. It is thought that the local welded pipe market may fluctuate on a slight uptrend in the week ahead.

Product NameSpec.CategoryCitySteel Plant/OriginPrice (RMB/mt)Price ($/mt)Weekly Change (RMB/mt)
Seamless pipeΦ108 mm x 4.5 mm20# (GB/T8162-1999)ShanghaiWuxi4,0005800
GuangzhouShandong4,500652↓50
BeijingAngang4,0505870
Average price-4,183606↓17
Φ219 mm x 6 mm20# (GB/T8163-1999)ShanghaiZhenda4,2006090
GuangzhouAngang4,550659↓50
BeijingShandong4,250616↑50
Average price-4,3336280
Welded pipeΦ48 mm x 3.25 mmQ195-Q215ShanghaiTangshan3,530512↓20
GuangzhouGuangzhou3,6505290
BeijingJinghua3,430497↓20
Average price-3,537513↓13
Ф114 mm x 3.75 mmQ215-Q235ShanghaiHuaqi3,560516↓20
GuangzhouGuangzhou3,6505290
BeijingZengzhou3,360487↓20
Average price-3,523511↓13

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.90


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