Local Chinese steel pipe market mostly moves sideways

The local Chinese steel pipe market has mostly moved on a stable trend during the past week.

 

As of January 19, 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 $628/mt (RMB 4,316/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $636/mt (RMB 4,367/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 $526/mt (RMB 3,617/mt) and $526/mt (RMB 3,614/mt) respectively. All the above prices include 17 percent VAT. 

 

The local Chinese seamless pipe market has moved sideways during the past seven days amid very slack trading activity. Billet prices have fluctuated on an upward trend. With downstream demand for seamless pipes almost at a halt ahead of the Chinese New Year holiday, it is thought that domestic seamless pipe prices will remain stable in the coming week. 

 

The Chinese domestic welded pipe market has mostly followed a stable trend during the past week. Trading activity is almost at a standstill with downstream demand from the construction sector slowing to a halt with the approach of the Chinese New Year holiday. Traders are now mostly just putting their accounts in order ahead of the holiday. Domestic welded pipe prices are expected to move on a stable trend in the coming seven days. 

 

 

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

 

$1 = RMB 6.87