Local Chinese steel pipe market moves sideways

Friday, 23 February 2018 12:01:19 (GMT+3)   |   Shanghai
       

The local Chinese steel pipe market has moved on a stable trend during the New Year holiday period in the past week.

As of February 22, 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 $820/mt (RMB 5,200/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $825/mt (RMB 5,233/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 $690/mt (RMB 4,377/mt) and $686/mt (RMB 4,347/mt) respectively. All the above prices include 17 percent VAT.

The Chinese domestic seamless pipe market has moved sideways during the holiday period. Today, February 22, is the first day back after the holiday, but most traders have not returned to the market yet and so prices are unchanged. Meanwhile, weather conditions have improved and so demand is expected to pick up. As a result, sentiment in the market is positive. Some seamless pipe producers have raised their quoted prices today, but without influencing traders' prices yet. As for the coming week, it is believed that domestic seamless pipe prices will follow an upward trend.

The local Chinese welded pipe market has indicated a stable trend during the holiday period, without any price changes seen today either. Most traders will back in the market next Monday. Market inventories have risen slightly during the holiday period, while most traders are upbeat on the prospects for the welded pipe market. The local welded pipe market is expected to move in an upward direction in the week ahead.

Product Name

Spec.

Category

City

Steel Plant/Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Seamless pipe

Φ108 mm x 4.5 mm

20# (GB/T8162-1999)

Shanghai

Wuxi

4,950

781

0

Guangzhou

Shandong

5,450

860

0

Beijing

Angang

5,200

820

0

Average price

-

5,200

820

0

Φ219 mm x 6 mm

20# (GB/T8163-1999)

Shanghai

Zhenda

5,050

797

0

Guangzhou

Angang

5,450

860

0

Beijing

Shandong

5,200

820

0

Average price

-

5,234

826

0

Welded pipe

Φ48 mm x 3.25 mm

Q195-Q215

Shanghai

Tangshan

4,460

703

0

Guangzhou

Guangzhou

4,420

697

0

Beijing

Jinghua

4,250

670

0

Average price

-

4,378

691

0

Ф114 mm x 3.75 mm

Q215-Q235

Shanghai

Huaqi

4,370

689

0

Guangzhou

Guangzhou

4,420

697

0

Beijing

Zengzhou

4,250

670

0

Average price

-

4,347

686

0

 

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

$1 = RMB 6.34


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