Local Chinese steel pipe prices decrease

The local Chinese steel pipe prices have showed a downward trend during the past week.

Local Chinese seamless pipe prices have softened during the past seven days, influenced by slight declines in upstream billet prices, though production volumes have declined a little lately, providing some support for prices. Overall trading activity has remained weak due to the off-season. As for the week ahead, considering the weakness of the demand side and slight declines in raw material prices, it is believed that seamless pipe prices may continue to indicate minor decreases.

Chinese domestic welded pipe prices have moved down a little during the past week amid lower steel strip and raw material prices, while overall trading activity for welded pipes has remained weak. Production restrictions have started to limit welded pipe supply volumes, though market inventory is said to be at normal levels. Most traders have been willing to reduce their quoted prices in order to close more deals. ,As for the week ahead, it is believed that welded pipe prices may continue to move down as demand is expected to remain sluggish.

Seamless pipe prices  

 All the above prices include 13 percent VAT.

Welded pipe prices 

All the above prices include 13 percent VAT.

$1 = RMB 7.208