Local Chinese steel pipe market continues to see lackluster demand

The local Chinese steel pipe market has mostly moved on a stable trend in the past week.
 
As of July 28, 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 $458/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $482/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 $416/mt and $426/mt respectively. All the above prices include 17 percent VAT.

The local Chinese seamless pipe market price moved sideways in the past seven days, while trading activity has been weak and so slight upticks in billet prices have not impacted the price trend. Some traders are even willing offer discounts during actual transactions. Most traders' inventories are at low levels. As for the coming week, it is believed that demand will remain weak and that seamless pipe prices may fluctuate on a slightly soft trend.
 
The Chinese domestic welded pipe market has been mainly stable in the past week, though with some slight upticks also seen due to increases in steel strip prices. Despite the hot weather and the weakness of demand, most traders are keeping their prices stable for now. It is thought that local welded pipe prices will move sideways in the week ahead.

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.67