Local Chinese pipe prices stable or up slightly

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

Local Chinese seamless pipe prices have mostly indicated a stable trend in the past seven days, though with small increases observed for some products. Overall trading activity has remained sluggish due to the hot and rainy weather conditions. Upstream billet prices have recently showed a strong performance, which gives support for seamless pipe prices. As for the week ahead, considering the weakness of the demand side and support from the cost side, it is believed that local seamless pipe prices will be mainly stable, with some small fluctuations possible.

Chinese domestic welded pipe prices have edged up slightly during the past week, supported by increases in steel strip prices and restrictions on welded pipe production in central China. Trading activity has been at low levels and market inventory has increased slightly. However, the weakness of the demand side has caused most traders to be reluctant to increase their quoted prices as much as the increases seen on the upstream side. As for the week ahead, it is believed that welded pipe prices in China may again indicate slight rises.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.992