Lackluster activity continues in local Chinese steel pipe market

The local Chinese steel pipe market has mostly moved on a stable trend during the past seven days. 
 
As of June 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 $538/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $554/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 $412/mt and $417/mt respectively. All the above prices include 17 percent VAT.
 
Chinese domestic seamless pipe prices have been stable during the past week, while trading activity has remained very low. Although quotations are stable, traders are heard to be giving certain discounts in actual transactions. As for the coming week, it is believed that prices may fluctuate in line with trading activity, with downward price movement possible. On the other hand, the local Chinese welded pipe market has mostly moved sideways during the past week, while demand from the downstream side has remained slack. Some traders have chosen to slightly reduce their quoted prices but most traders have kept their prices unchanged. Just minor fluctuations are expected to be seen in prices in the week ahead.

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.21