Local Chinese seamless pipe prices decline, welded pipe prices stable

Local Chinese seamless pipe prices have mostly softened in the past seven days, while local welded pipe prices have moved sideways.

Chinese domestic seamless pipe prices have mostly moved down during the past week. Overall trading activity has slackened and is at weak levels, with traders consequently willing to reduce their quoted prices in order to close more deals. Most traders hold a negative view of the market prospects and are not willing to increase stock levels. As for the week ahead, it is believed that domestic seamless pipe prices may follow a mostly stable trend, with some slight downticks.

Local Chinese welded pipe prices have been following a stable trend during the past week. With upstream steel strip prices first softening and then rebounding, most pipe producers and traders have kept their prices stable in order to attract more deals rather than choose to increase their quoted prices. Downstream demand has increased slightly, which also gives support to welded pipe prices. Traders are cautious due to the fluctuations in upstream prices. As for the week ahead, it is believed that welded pipe prices may move sideways, with some slight downticks also possible.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 7.071