Local Chinese steel pipe prices fluctuate slightly

Local Chinese steel pipe prices have fluctuated slightly in the past seven days, with seamless pipe prices mostly softening by a small margin. 

Local Chinese seamless pipe prices have mostly declined slightly during the past week. Overall trading activity has been weak. As the end of the year approaches, demand from the downstream construction sector has mainly decreased and traders are more willing to reduce prices in order to close more deals. Traders generally do not want to increase stock levels for now and most of them believe that demand will continue to slacken. As for the week ahead, it is believed that local seamless pipe prices may again move down by a small margin.

Local Chinese welded pipe prices have fluctuated slightly during the past week, while overall trading activity has remained weak due to the cold weather and the offseason. Upstream steel strip prices have risen by a small margin during the given week, causing minor upward adjustments in prices in certain districts. However, since demand has continued to decline, certain traders have chosen to make small downward adjustments to their quoted prices in order to close more deals. As for the week ahead, considering that demand may continue to weaken, it is believed that domestic welded pipe prices may follow a soft trend.

All the above prices include 13 percent VAT.

$1 = RMB 7.003