Local Chinese steel pipe market characterized by weak activity

Thursday, 03 November 2016 16:37:29 (GMT+3)   |   Shanghai
       

The local Chinese steel pipe market has moved on an upward trend during the past week.

As of November 3, 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 $566/mt (RMB 3,833/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $574/mt (RMB 3,883/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 $461/mt (RMB 3,120/mt) and $454/mt (RMB 3,077/mt) respectively. All the above prices include 17 percent VAT. 

Even though trading activity has remained at low levels, the Chinese domestic seamless pipe market has indicated upward movement in past seven days, mainly on the back of higher billet prices. Furthermore, environmental protection measures have restricted output and supply volumes of seamless pipe. Traders think that, without support from the demand side, domestic seamless pipe prices may soften in the coming period.

The local Chinese welded pipe market has mostly followed a rising trend in the past week, despite the weakness of trading activity. In the week in question, upstream steel strip prices initially softened, but then moved on an upward trend. With the approach of the cold weather, trading activity is unlikely to change for the better. As for the coming week, it is believed that the local welded pipe market may see stable movement. 
 
Product Name Spec. Category City Steel Plant/Origin Price (RMB/mt) Price ($/mt) Weekly Change (RMB/mt)
Seamless pipe Φ108 mm x 4.5 mm 20# (GB/T8162-1999) Shanghai Wuxi 3,700 547 ↑150
Guangzhou Shandong 3,950 584 ↑100
Beijing Angang 3,850 570 ↑250
Average price - 3,833 567 ↑167
Φ219 mm x 6 mm 20# (GB/T8163-1999) Shanghai Zhenda 3,700 547 ↑150
Guangzhou Angang 4,100 607 ↑100
Beijing Shandong 3,850 570 ↑230
Average price - 3,883 574 ↑160
Welded pipe Φ48 mm x 3.25 mm Q195-Q215 Shanghai Tangshan 3,180 470 ↑130
Guangzhou Guangzhou 3,230 478 ↑130
Beijing Jinghua 2,950 436 ↑90
Average price - 3,120 462 ↑117
Ф114 mm x 3.75 mm Q215-Q235 Shanghai Huaqi 3,120 462 ↑130
Guangzhou Guangzhou 3,180 470 ↑130
Beijing Zengzhou 2,930 433 ↑90
Average price - 3,077 455 ↑117
 

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.76


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