Local Chinese steel pipe market mostly moves sideways or upward

The local Chinese steel pipe market has mostly either moved sideways or upward in the past week.   

 

As of March 24 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 $448/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $466/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 $404/mt and $409/mt respectively. All the above prices include 17 percent VAT. ($1 = RMB 6.4)

 

The local Chinese seamless steel pipe market has mostly followed a stable trend in the past week, though with some slight decreases in prices also observed. Overall trading activity has remained at normal levels. Billet prices in China have risen slightly, though local seamless steel pipe prices have not indicated a similar upward movement due to lack of sufficient support from trading activity. It is believed that domestic seamless pipe prices will be mainly stable in the week ahead.

 

The Chinese domestic welded pipe market has moved on an upward trend in the past seven days on the back of increases in local steel strip prices. Overall trading activity is on the slack side. Traders are still focusing on trying to conclude sales. Although market quotations are moving up, traders are still willing to offer discounts in order to attract business. As for the coming week, the domestic welded pipe market is expected to trend sideways or just indicate minor fluctuations.

 

 

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

$1 = RMB 6.52