Local Chinese steel pipe prices fall further

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

Chinese seamless pipe prices have continued to decline during the past week. Overall trading activity has been slack. Prices of billet and other raw material prices have declined sharply both in the spot and futures market, causing seamless pipe prices to follow a similar downward trend. Pipe producers have mostly reduced their quoted prices. As for the week ahead, considering the weakness of both supply and demand side and the weakening of support from the cost side, it is believed that seamless pipe prices in China may decrease further.

Chinese domestic welded pipe prices have indicated a downward trend during the past week. Overall trading activity has been at a low level since prices keep going down. Prices of steel strip and other raw materials prices have fallen further, causing welded pipe prices to follow suit. As for the week ahead, it is believed that welded pipe prices in China may continue to soften.

Seamless pipe prices 

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.394