Local Chinese steel pipe market moves on overall upward trend

Thursday, 21 July 2016 16:14:28 (GMT+3)   |   Shanghai
       

The local Chinese steel pipe market has mostly followed an upward trend in the past week.

As of July 21, 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 $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 $414/mt and $421/mt respectively. All the above prices include 17 percent VAT. ($1 = RMB 6.4)
 
The Chinese domestic seamless pipe market has mostly moved on an upward trend in the past week on the back of rises in billet prices. However, downstream demand and overall trading activity for seamless pipes have remained weak. Traders are only buying in material when they receive orders. It is believed that the trend of seamless pipe prices is now mostly dependent on the trend of billet prices. As a result, it is expected that domestic seamless pipe prices will continue their upward trend in the week ahead.
 
The local Chinese welded pipe market has indicated an upward trend in the past seven days even though overall trading activity has remained weak. Reduced output has resulted in lower supplies from producers, causing some products to be in short supply and thereby providing support for prices. Downstream buyers are maintaining a wait-and-see stance amid the uptrend of prices. As for the coming week, it is believed that prices may indicate slight declines as traders seek to attract more business.

Product NameSpec.CategoryCitySteel Plant/OriginPrice (RMB/mt)Price ($/mt)Weekly Change (RMB/mt)
Seamless pipeΦ108 mm x 4.5 mm20# (GB/T8162-1999)ShanghaiWuxi2,850427↑150
GuangzhouShandong3,150472↑50
BeijingAngang2,800420↔0
Average price-2,933440↑67
Φ219 mm x 6 mm20# (GB/T8163-1999)ShanghaiZhenda

3,000

450↑150
GuangzhouAngang3,300495↑50
BeijingShandong2,950442↔0
Average price-3,083462↑67
Welded pipeΦ48 mm x 3.25 mmQ195-Q215ShanghaiTangshan2,600390↑40
GuangzhouGuangzhou2,700405↑20
BeijingJinghua2,640396↑80
Average price-2,647397↑47
Ф114 mm x 3.75 mmQ215-Q235ShanghaiHuaqi2,770415↑70
GuangzhouGuangzhou2,700405↑20
BeijingZengzhou2,620393↑80
Average price-2,697404↑57

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


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