Local Chinese pipe prices mostly indicate a slight downtrend

Prices in the local Chinese steel pipe market have mostly indicated a slight downtrend during past week.

While Chinese seamless pipe market prices have mostly remained stable over the past week, prices for some products have slightly decreased. Overall trading activity in the local Chinese seamless pipe market has declined to low levels. Some producers have preferred to slightly reduce their seamless pipe prices, while most traders have chosen to keep their prices stable, though they have provided discounts for serious buyers since the end of year period. Traders are not willing to increase seamless pipe inventory levels. As for the week ahead, it is believed that seamless pipe market prices may follow a mostly stable trend with a potential to fall slightly.

Local Chinese welded pipe market prices have indicated a slight downtrend during the past week. Overall trading activity in the market has been weak. Traders, mostly under pressure of funding during end of year period, were willing to reduce their prices slightly. But recently supply volume and the market inventories have been at low levels, providing certain support to welded pipe prices. As for the week ahead, considering there is no sign for an increase in demand, it is believed that welded pipe market prices may continue their slight downtrend.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.9801