Local Chinese steel pipe prices fluctuate slightly

The local Chinese steel pipe prices have fluctuated by small margins during the past week.

As of October 21 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 $1,062/mt (RMB 6,783/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $1,063/mt (RMB 6,793/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 $982/mt (RMB 6,273/mt) and $977/mt (RMB 6,243/mt) respectively. All the above prices include 13 percent VAT.

Chinese seamless pipe prices have indicated some fluctuations, influenced by fluctuations in steel futures prices, but are mostly at the same price levels now compared to last week. Prices have also been supported by low production levels despite the weakening of billet prices. Demand is also still on the weak side. As for the week ahead, it is believed that seamless pipe prices may edge down slightly. 

Chinese welded pipe prices have shown minor fluctuations during the past week. Overall trading activity has improved slightly but is still considered to be weak. The supply side lately has recovered slightly but certain areas are still impacted by production restrictions. On the upstream side, steel strip prices have indicated a soft trend both in the spot and futures markets. As for the week ahead, it is believed that welded pipe prices may indicate small fluctuations.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.389