Local Chinese steel pipe prices fluctuate slightly

Local Chinese steel pipe prices have fluctuated slightly during the past week.

As of June 17, 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 $982/mt (RMB 6,317/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $985/mt (RMB 6,333/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 $914/mt (RMB 5,880/mt) and $910/mt (RMB 5,850/mt) respectively. All the above prices include 13 percent VAT.

Chinese domestic seamless pipe prices have mostly moved sideways, with some slight fluctuations also seen. Overall trading activity has been weak due to the hot weather and the off-season. Upstream billet prices have been fluctuating and still providing support for seamless pipe prices. But seamless pipe supply volumes have lately decreased slightly as certain producers have reduced their production volumes. As for the week ahead, it is believed that seamless pipe prices in China may indicate minor fluctuations.

Local Chinese welded pipe prices have indicated minor fluctuations. Steel strip prices have risen slightly, resulting in some slight upticks in welded pipe prices in some parts of the country. Trading activity has been weak due to the off-season, resulting in minor price decreases in some areas. Traders are mostly prepared to offer certain discounts in order to close more deals. As for the week ahead, it is believed that welded pipe prices may fluctuate slightly.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.430