Local Chinese pipe prices continue to fall significantly

Local Chinese steel pipe prices have continued to indicate large decreases during the past week.

Chinese seamless pipe prices have continued their downward trend during the past week. Overall trading activity has been at low levels since prices have continued to go downward. With macroeconomic policy continuing to influence raw material prices, seamless pipe prices have remained on a downward trend. As for the week ahead, it is believed that seamless pipe prices may follow fluctuate on a soft trend.

Chinese domestic welded pipe prices have declined by significant margins in the past seven days. With prices of steel strip and other steel products continuing to fall, welded pipe prices have followed suit. Trading activity has been weak since the downstream side is in wait-and-see mode as prices have kept falling. Most traders hold a negative view and are not willing to increase their stock levels. As for the week ahead, it is believed that welded pipe prices may continue to decline.

Seamless pipe prices

All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.403