Local Chinese pipe prices move sideways or rise slightly

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

Chinese domestic seamless pipe prices have mostly followed a stable trend in the past seven days, with the ongoing weakness of overall trading activity preventing prices from rising in line with increases seen in prices of billet and other raw materials, while most traders have chosen to keep prices stable in order to try to close more deals. Inventories in the market are being kept at low levels amid the prevailing weak sentiment among traders. As for the week ahead, it is believed that domestic seamless pipe prices may soften slightly due to weak demand during the current offseason.

Local Chinese welded pipe prices have indicated minor increases during the past week, supported by increases in prices of steel strip and raw materials. Overall trading activity has been weak. Low market inventory has also provided additional support for welded pipe prices. However, with the weather getting cold, downstream demand has continued to decline and sentiment among traders is mostly downbeat. As for the week ahead, it is believed that domestic welded pipe prices may just indicate minor fluctuations. 

 
All the above prices include 13 percent VAT.

 $1 = RMB 7.03