Local Chinese steel pipe prices increase go upward

The local Chinese steel pipe prices have moved on an upward trend during the past week.

As of March 10, 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 $976/mt (RMB6,157/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $980/mt (RMB 6,183/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 $881/mt (RMB 5,560/mt) and $876/mt (RMB 5,530/mt) respectively. All the above prices include 13 percent VAT.

Chinese seamless pipe prices have risen further during the past week on the back of rises in billet prices. Overall trading activity has increased and is at normal levels, while demand is set to improve due to warmer weather. As for the week ahead, it is believed that seamless pipe prices may rise further.

Chinese welded pipe prices have increased during the past week on the back of increases in prices of steel strip and raw materials. Overall trading activity has been weak, while welded pipe supply has increased. As for the week ahead, considering support from the cost side and as demand may improve with warmer weather, it is believed that welded pipe prices will continue their upward trend.

Seamless pipe prices

All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.311