Local Chinese seamless pipe prices mostly soften, welded pipe prices unchanged

Local Chinese seamless pipe prices have mostly softened during the past week, with welded pipe prices moving sideways.

Chinese domestic seamless pipe prices have mostly moved down in the past seven days. Overall trading activity has been weak even after the long holiday, impacting the confidence of traders and causing them to reduce their prices. Upstream billet prices have not provided much support for seamless pipe prices. As for the week ahead, it is believed that seamless pipe prices in China may indicate further slight declines as trading activity is not expected to increase.

Local Chinese welded pipe prices have followed a stable trend during the past week. Overall trading activity was at low levels during the holiday period and rose slightly after the holiday. Upstream steel strip prices have also moved sideways. Considering that the demand side has not increased strongly, most traders have kept their inventories at low levels in order to reduce risks. As for the week ahead, it is believed that domestic welded pipe prices may fluctuate slightly depending on trading activity. 

 
All the above prices include 13 percent VAT.

 $1 = RMB 7.07