Local Chinese pipe prices mainly stable, with some small downticks

Local Chinese steel pipe prices have indicated a mostly stable trend in the past week, with some slight downticks also seen.

Chinese domestic seamless pipe prices have followed a mostly stable trend during the past seven days. Overall trading activity has been at low levels, causing some traders to decrease their quoted prices slightly. Market inventories have increased due to the weakness of the demand side. As for the week ahead, it is believed that seamless pipe prices may just indicate minor fluctuations.

Local Chinese welded pipe prices have indicated a mainly stable trend in the past week, with slight decreases seen for some product prices. Overall trading activity has decreased and is currently weak. Upstream, prices of steel strip and other raw materials have fluctuated at high levels, which provides support for welded pipe prices. But the weakness of demand has led some traders to reduce their quoted prices slightly. As for the week ahead, it is believed that welded pipe prices may indicate slight fluctuations.

Seamless pipe prices

All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.490