Local Chinese steel pipe prices continue to move down

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

Chinese domestic seamless pipe prices have declined further during the past seven days. Overall trading activity has been weak since the Labor Day holiday and most pipe producers have chosen to reduce their production volumes lately. Traders mostly hold a negative view and are not willing to increase their stock levels. As for the week ahead, it is believed that seamless pipe prices may continue to move down, by a slight margin.  

Local Chinese welded pipe prices have fallen further during the past week. Overall trading activity has been sluggish. Prices of steel strip and other raw materials have continued their downward trend but the decrease margins have been smaller. The demand side has mostly been maintaining a wait-and-see stance and producers have mainly decreased their production volumes. As for the week ahead, with both supply and demand on the low side, it is believed that welded pipe prices may continue their downward trend.  

Seamless pipe prices  

 All the above prices include 13 percent VAT.

Welded pipe prices 

All the above prices include 13 percent VAT.

$1 = RMB 6.905