Local Chinese steel pipe market mostly follows stable trend

Local Chinese steel pipe prices have mostly followed a stable trend during the past week.

Chinese domestic seamless pipe prices have mostly moved sideways in the past seven days, though with some slight downticks also seen. Overall trading activity has remained at low levels, with demand still weak due to the offseason. As for the week ahead, it is believed that the domestic seamless pipe market may again mostly move sideways, with some minor decreases also possible.

Local Chinese welded pipe prices have mainly followed a stable trend, though prices have risen slightly in certain parts of the country due to lower inventories. Overall trading activity has remained weak. Upstream steel strip prices have moved up by a small margin, thereby also providing support for welded pipe prices. Meanwhile, low output volumes and inventories also support welded pipe prices. As for the week ahead, considering the weakness of the demand side, it is believed that domestic welded pipe prices may soften slightly. 

All the above prices include 13 percent VAT.

 $1 = RMB 7.016