Local Chinese pipe prices continue their rising trend

Local Chinese steel pipe prices have continued their upward trend during the past week.

Chinese domestic seamless pipe prices have continued to move up during the past seven days. Overall trading activity has increased and is currently at normal levels. Upstream billet prices have continued to rise strongly, causing seamless pipe prices to follow suit. Demand has increased but, since prices have continued to rise, the improvement in demand has been small. Market inventory levels have declined. As for the week ahead, it is believed that domestic seamless pipe prices may fluctuate on an upward trend.

Local Chinese welded pipe prices have continued to rise during the past week. Trading activity has increased. Supply volumes have declined due to production restrictions in central China. Upstream, prices of steel strip and other raw materials have continued to rise. As for the week ahead, given that the support from the cost side is still strong, it is believed that welded pipe prices will continue their upward movement.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

 $1 = RMB 6.558