Local Chinese steel pipe prices continue to fall

Local Chinese steel pipe prices have continued their downward trend during the past week.

Chinese seamless pipe prices have continued a downward trend during the past seven day. Overall trading activity is weak, with the Labor Day holiday also approaching. Upstream billet prices have been decreasing but have lately shown some signs of a rebound and so the decreases in seamless pipe prices have been smaller. As for the week ahead, it is believed that seamless pipe prices may just indicate minor fluctuations.

Chinese welded pipe prices have continued to move down during the past week as upstream steel strip prices have also continued to decline. Overall trading activity has been at low levels. Production volumes of welded pipe have decreased, but traders still are willing to offer low prices in order to close more deals. As for the week ahead, considering the signs of some rebound in raw material prices and reduced supply volumes, it is believed that welded pipe prices may just indicate small declines.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.921