Local Chinese pipe prices fluctuate in small margins

The local Chinese steel pipe prices have showed fluctuations during the past week.

As of June 29 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 $676/mt (RMB4,883/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $673/mt (RMB 4,857/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 $587/mt (RMB 4,237/mt) and $577/mt (RMB 4,167/mt) respectively. All the above prices include 13 percent VAT.

Local Chinese seamless pipe prices have fluctuated on a slightly upward trend during the past week. Overall trading activity has been at a weakness level since off season raining weather for certain areas. Upstream billet prices showed fluctuations on a slightly upward trend which give certain support to seamless pipe prices. As for the week ahead, it is believed that seamless pipe prices may indicate small fluctuations.

Chinese domestic welded pipe prices have indicated a fluctuation with downward trend during the past week. Demand side has remained weak due to off season and most traders choose to slightly reduce their quoted prices in order to close more deals during end of month period. Upstream steel strip and other raw material prices have showed a fluctuation with slightly upward trend which gives certain support to welded pipe prices. As for the week ahead, it is believed that welded pipe prices may continue a fluctuation with slightly downward trend.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 7.221