Local Chinese steel pipe prices decrease slightly

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

Chinese domestic seamless pipe prices have mainly decreased slightly during the past seven days. Overall trading activity has increased but is still at low levels since buyers are reluctant to increase stock levels. Upstream billet prices have indicated significant increases. As for the coming period, it is believed that prices of seamless pipe may just indicate small fluctuations ahead of the National Day holiday.

Local Chinese welded pipe prices have indicated minor decreases during the past week. Overall trading activity has been at low levels due to the approach of the holiday period and downstream operators are mostly halting their operations. Upstream steel strip prices have been fluctuating and have not given strong support to welded pipe prices. Most traders have chosen to reduce their quoted prices slightly. After the holiday period Chinese welded pipe prices may indicate small fluctuations. 

 
All the above prices include 13 percent VAT.

 $1 = RMB 7.07