Local Chinese pipe prices stable or up slightly  

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

As of September 7, 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 $687/mt (RMB 4,947/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $683/mt (RMB 4,913/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 $600/mt (RMB 4,317/mt) and $590/mt (RMB 4,247/mt) respectively. All the above prices include 13 percent VAT.

Chinese domestic seamless pipe prices have followed a mostly stable trend in the past seven days, with prices in some local market rising slightly. Overall trading activity has been weak. Billet prices first rose in the past week and then softened. Traders have mostly been keeping their prices stable in order to close more deals. As for the week ahead, considering the support from the cost side is slightly weaker, while demand may see a slight recovery, it is believed that seamless pipe prices may just indicate minor fluctuations.  

Local Chinese welded pipe prices have edged up by small margins during the past week amid increases observed in steel strip prices. Overall trading activity has been sluggish. As for the week ahead, considering that demand may improve a little, it is believed that welded pipe prices may continue to indicate small increases.   

Seamless pipe prices  

 All the above prices include 13 percent VAT. 

Welded pipe prices   

All the above prices include 13 percent VAT. 

$1 = RMB 7.199