Local Chinese steel pipe market moves up sharply 

Thursday, 10 August 2017 17:43:45 (GMT+3)   |   Shanghai
       

Local Chinese steel pipe prices have indicated strong increases during the past week. 

As of August 10, 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 $735/mt (RMB 5,067/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $731/mt (RMB 5,033/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 $660/mt (RMB 4,550/mt) and $653/mt (RMB 4,497/mt) respectively. All the above prices include 17 percent VAT. ($1 = RMB 6.72)

The Chinese domestic seamless pipe market has moved up sharply in the past seven days mainly due to higher billet prices, but also supported by low inventories in the market. Overall trading activity in the seamless pipe market has remained weak. It is believed that in the coming week domestic seamless pipe prices may just indicate minor fluctuations given the weakness of demand.

The local Chinese welded pipe market has also seen strong upward movement in the past week, principally due to increases in prices of steel strip and raw materials. Welded pipe inventories are also at low levels. Trading activity for welded pipe is sluggish and buyers prefer to wait and see amid the current sharp uptrend. As for the week ahead, it is thought that domestic welded pipe prices may fluctuate on an upward trend.

 

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

743

↑250

Guangzhou

Shandong

5,150

773

↑100

Beijing

Angang

5,100

766

↑400

Average price

-

5,067

761

↑251

Φ219 mm x 6 mm

20# (GB/T8163-1999)

Shanghai

Zhenda

4,950

743

↑300

Guangzhou

Angang

5,100

766

↑100

Beijing

Shandong

5,050

758

↑450

Average price

-

5,033

756

↑283

Welded pipe

Φ48 mm x 3.25 mm

Q195-Q215

Shanghai

Tangshan

4,530

680

↑230

Guangzhou

Guangzhou

4,600

691

↑300

Beijing

Jinghua

4,520

679

↑390

Average price

-

4,550

683

↑307

Ф114 mm x 3.75 mm

Q215-Q235

Shanghai

Huaqi

4,440

667

↑230

Guangzhou

Guangzhou

4,600

691

↑300

Beijing

Zengzhou

4,450

668

↑390

Average price

-

4,497

675

↑307

 

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

 $1 = RMB 6.66

 


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