Local Chinese steel pipe prices follow a mostly stable trend

The local Chinese steel pipe prices have followed a mostly stable trend during the past week.

Local Chinese seamless pipe prices have indicated a stable trend during the past seven days. Overall trading activity is still weak. Upstream billet prices have fluctuated on a slight uptrend, but most seamless pipe producers and traders have kept their prices stable due to the lack of improvement in demand. As for the week ahead, most traders still believe the traditional peak sales season may boost demand volumes, and so it is believed that seamless pipe prices in China may move up slightly.

Chinese domestic welded pipe prices have indicated a mostly stable trend in the past week, though with minor downticks seen in prices in some parts of the country. With upstream steel strip prices rising slightly and reduced production volumes in central China, support for welded pipe prices is strong. However, since demand is still weak and the increase margin in the previous week was relatively large, certain traders chose to reduce their prices by small margins in order to close more deals. As for the week ahead, it is believed that welded pipe prices in China may indicate slight 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 6.833