Latest situation in local Chinese steel pipe market

China's overall domestic steel pipe market - both seamless and welded - has generally moved sideways in the past week.
 
As of October 24, 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 $694/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $732/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 $601mt and $614/mt. All the above prices include 17 percent VAT.
 
Chinese domestic seamless pipe prices have mostly moved on a stable trend during the past week, though slight decreases have been observed for prices of certain products due to low demand, Poor activity continues to exert a negative impact on sentiment among traders, who are only purchasing in line with their needs. At the same time, the market is unlikely to see a strong drop in prices due to support from the cost side. China's seamless pipe market is expected to continue its sideways trend during the coming week.
 
China's local welded pipe market has also been mainly stable in the past seven days, though some slight downticks have also been witnessed. In addition, prices of steel strip have moved on a soft trend in the past week. The trading volume in the welded pipe market has improved but has still fallen short of expectations. Demand is still considered to be the main factor affecting the trend of welded pipe prices. For the coming week, China's domestic welded pipe market is only expected to witness minor fluctuations.