Local Chinese pipe prices mostly indicate slight decreases

Local Chinese steel pipe prices have mostly declined by a slight margin during the past week.

As of July 1, 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 $954/mt (RMB 6,173/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $957/mt (RMB 6,190/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 $894/mt (RMB 5,783/mt) and $889/mt (RMB 5,753/mt) respectively. All the above prices include 13 percent VAT. ($1 = RMB 6.471)

Local Chinese seamless pipe prices have mostly moved down slightly in the past seven days. Overall trading activity has been weak due to the off-season and production restrictions. Upstream billet prices have decreased by relatively large margins compared to seamless pipe prices. As for the week ahead, it is believed that seamless pipe prices may continue their slightly soft trend, with some fluctuations.

Chinese domestic welded pipe prices have declined slightly or moved sideways during the past week. Overall trading activity has been slack. Most traders have been willing to offer certain discounts or to reduce their quoted prices in order to close more deals. Supply volumes have recently declined due to production restrictions, and this has provided support for welded pipe prices. As for the week ahead, it is believed that welded pipe prices may indicate minor fluctuations.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.