Local Chinese steel pipe prices follow an upward trend

Local Chinese steel pipe prices have increased during the past week.

As of April 7, 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 $1,002/mt (RMB6,377/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $1.006/mt (RMB 6,403/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 $886/mt (RMB 5,640/mt) and $882/mt (RMB 5,617/mt) respectively. All the above prices include 13 percent VAT.

Local Chinese seamless pipe prices have moved up during the past seven days. Overall trading activity has been weak due to coronavirus restriction measures in some parts of the country. Prices of billet and raw materials have indicated an upward trend, causing seamless pipe producers to raise their prices. As for the week ahead, it is believed that seamless pipe prices in China may rise slightly as public health measures continue to impact supply and demand.

Chinese domestic welded pipe prices have increased during the past week amid higher steel strip and raw material prices. Overall trading activity has remained weak. Public health measures have continued to influence supply and demand as well as transportation. As for the week ahead, it is believed that welded pipe prices may increase by a small margin.  

Seamless pipe prices

All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.366 (April 7)