Little change in Chinese steel pipe market

Prices have remained stable and trading activity has been very quiet in the Chinese steel pipe market in the past week - due to the approach of the Spring Festival holiday.
 
As of January 30, 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 $688/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $726/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 $585/mt and $589/mt respectively. All the above prices include 17 percent VAT.
 
China's seamless pipe market has followed a stable trend during the past week. Traders have left the market already and so the trading volume is almost down to zero. It is believed that the stable trend of the market will continue after the holiday. The Chinese welded pipe market has moved sideways during the past week, while activity is very low due to the approach of the holiday. Inventory levels are considered to be sufficient to handle the trade volume upon the return from the holiday. The market is expected to continue its sideways trend.