Local Chinese pipe prices move sideways or fluctuate slightly

Local Chinese steel pipe prices have moved sideways or fluctuated slightly during the past week.

Local Chinese seamless pipe prices have mostly followed a stable trend during the past week. Overall trading activity has been at low levels with the arrival of the offseason for business. Upstream billet prices have only indicated minor changes, while seamless pipe inventories are mainly on the low side, providing support for seamless pipe prices. Sentiment among traders is negative. As for the week ahead, it is believed that domestic seamless pipe prices may fluctuate on a slightly soft trend.

Chinese domestic welded pipe prices have indicated minor fluctuations in the past seven days, while trading activity has been at a low level. Upstream steel strip prices and raw material futures prices have edged upwards, causing welded pipe prices in some local regions to indicate slight upticks. As for the week ahead, it is believed that welded pipe prices may soften by a small margin due to the current offseason. 

All the above prices include 13 percent VAT.

$1 = RMB 7.00