Local Chinese steel pipe market mostly stable, some slight downticks also

Local Chinese steel pipe prices have mostly followed a stable trend in the past week, though with some few minor decreases also seen.

Chinese domestic seamless pipe prices have moved on a stable trend during the past week. Overall trading activity has been at low levels since most upstream and downstream players have still not returned to work. Inventories are still at high levels, which may put some pressure on market prices. As for the week ahead, trading activity may increase as more traders return to work. Overall, domestic seamless pipe prices may move down slightly during the coming week.

Local Chinese welded pipe prices have moved sideways in the past seven days, with some slightly decreases also observed. Trading activity has been at very low levels. Some traders are back at work but activity in the downstream construction sector is expected to recover in March and so demand side remains very sluggish for the time being. As for the week ahead, it is believed that domestic welded pipe market prices may follow a slightly soft trend.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 7.003