Local Chinese steel pipe market resumes its soft trend  

Local Chinese steel pipe prices have followed a downward trend during the past week.

Chinese domestic seamless pipe prices have moved down in the past seven days. Overall trading activity has been sluggish, with the demand side mostly maintaining a wait-and-see stance approaching the Labor Day holiday, and with most traders willing to reduce their prices in order to close more deals. Market inventories have been at high levels, which places pressure on prices. As for the coming period, it is believed that seamless pipe prices may see a stable trend after the Labor Day holiday.

Local Chinese welded pipe prices have also moved on a downward trend during the past week. Trading activity has been at normal levels since downstream buyers have sought to increase their stocks ahead of the holiday period. However, upstream raw material and steel strip prices have recently declined, causing most traders to hold a negative view and to be willing to reduce their prices. As for the week ahead, it is believed that welded pipe prices in China may fluctuate on 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.