Local Chinese pipe prices move sideways or change slightly

The local Chinese steel pipe prices have either moved sideways or changed slightly during the past week.

As of March 21 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 $721/mt (RMB 4,817/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $731/mt (RMB 4,883/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 $650/mt (RMB 4,340/mt) and $643/mt (RMB 4,293/mt) respectively. All the above prices include 16 percent VAT.

Local Chinese seamless pipe prices have mostly moved on a stable trend in the past seven days, with some slight reductions also seen. Overall trading activity has been at normal levels. Upstream billet prices have moved sideways or softened slightly. Most seamless pipe traders have kept their prices stable since demand is showing signs of improving. As for the week ahead, it is believed that domestic seamless pipe prices may follow a stable trend, with some upticks also likely.  

Chinese domestic welded pipe prices have edged up slightly during the past week. Overall trading activity has been at normal levels. With the influence of environmental protection measures, supply volumes and market inventories have declined, thereby providing support for prices. Upstream steel strip prices have also increased by small margins. As for the week ahead, it is believed that domestic welded pipe market prices may indicate further slight increases.

16 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.69