SteelOrbis

Local Chinese steel pipe market still awaits demand recovery

Friday, 10 February 2017 15:33:29 (GMT+3)   -   Shanghai

The local Chinese steel pipe market has mostly indicated stable movement during the past week, though with some slight price increases seen also.
 
As of February 9, 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 $634/mt (RMB 4,367/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $639/mt (RMB 4,400/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 $526/mt (RMB 3,617/mt) and $525/mt (RMB 3,613/mt) respectively. All the above prices include 17 percent VAT. 

The local Chinese seamless pipe market has seen some slight increases in prices in the past seven days. Both supply and demand have been at very low levels following the Chinese New Year holiday, while the upticks in prices have been due to the minor increases in prices of billet. As for the coming week, it is believed that domestic seamless pipe prices may just indicate minor fluctuations. 

The Chinese domestic welded pipe market has mostly followed a stable trend during the past week, while demand has yet to recover after the holiday. The small increases in steel strip prices have not affected welded pipe prices as demand for the latter product is very weak and traders mainly hold inventory bought before the holiday. Trading activity is expected to pick up in the week ahead, while inventories are at high levels. Just slight fluctuations in prices are anticipated in the coming week. 
 
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 4,100 596 ↑50
Guangzhou Shandong 4,650 676 ↑50
Beijing Angang 4,350 632 ↑50
Average price - 4,366 635 ↑50
Φ219 mm x 6 mm 20# (GB/T8163-1999) Shanghai Zhenda 4,200 610 0
Guangzhou Angang 4,700 683 ↑50
Beijing Shandong 4,300 625 ↑50
Average price - 4,400 640 ↑33
Welded pipe Φ48 mm x 3.25 mm Q195-Q215 Shanghai Tangshan 3,680 535 0
Guangzhou Guangzhou 3,750 545 0
Beijing Jinghua 3,420 497 0
Average price - 3,617 526 0
Ф114 mm x 3.75 mm Q215-Q235 Shanghai Huaqi 3,640 529 0
Guangzhou Guangzhou 3,800 552 0
Beijing Zengzhou 3,400 494 0
Average price - 3,613 525 0
 
17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.88


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