Local Chinese steel pipe prices fluctuate slightly

The local Chinese steel pipe market has indicated slight fluctuations during the past seven days.

As of April 25, in China's three main steel markets, i.e., Shanghai, Guangzhou and Beijing, the average price of 20# (GB/T8162-1999) grade 108 mm x 4.5 mm seamless pipe now stands at $710/mt (RMB 4,783/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $722/mt (RMB 4,867/mt). Meanwhile, on the same date, Q195-215 grade 48 mm x 3.25 mm welded pipe and Q215-235 grade 114 mm x 3.75 mm welded pipe prices in the above markets are standing at $650/mt (RMB 4,380/mt) and $643/mt (RMB 4,337/mt) respectively. All the above prices include 13 percent VAT.

The local Chinese seamless pipe market has moved down slightly during the past week mainly due to sluggish trading activity and the minor decline seen in upstream billet price. Downstream buyers mostly hold a negative view of the market prospects and are mainly maintaining a wait-and-see stance. As for the week ahead, it is believed that local seamless pipe prices may continue their slight downtrend.

Chinese domestic welded pipe prices have indicated minor upward fluctuations during the past week supported by upticks in steel strip prices, though the upward movement has been limited by the slackness of trading activity. As for the coming week, it is believed that local welded pipe prices may soften due to the weakness of demand.

13 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.74