China's steel pipe market has been mainly stable in the past week, with some slight downticks also observed.
As of November 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 $693/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $737/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 $599/mt and $604/mt. All the above prices include 17 percent VAT.
China's domestic seamless pipe market has mostly followed a stable trend during the past week, though with a few local markets indicating slight downticks due to the low trade volume. Amid slack demand and cold weather conditions, traders state that volumes of inquiries have decreased. As for inventory, most traders want to avoid high stock levels for now. For the coming week, China's seamless pipe market may continue to mostly move on a stable trend, though with some signs of softness.
The local Chinese welded pipe market has also generally been stable in the past week, though with slight decreases in some prices. While some upticks have been seen in steel strip prices, these have not been reflected in the welded pipe market yet. Since the downstream demand side is still slack, traders are not inclined to purchase and build up stocks. It is thought that China's domestic welded pipe market may move on a stable trend in the coming seven days.