Local Chinese steel pipe prices indicate diverse trends  

The local Chinese steel pipe market has indicated diverse price trends during the past week.

Chinese domestic seamless pipe prices have softened slightly during the past week. Overall trading activity has slackened a little and been at low levels. Most downstream buyers had increased stocks before the Labor Day holiday, and so downstream demand has weakened during the past week, also because of higher transportation costs. Although upstream billet prices have risen slightly, traders have mostly been unwilling to increase their quoted prices but instead have sought to close more deals. As for the week ahead, it is believed that domestic seamless pipe prices may indicate slight fluctuations.

Local Chinese welded pipe prices have moved upwards in the past seven days supported by higher prices of steel strip and of other raw material prices. Demand has increased strongly since the weather is good for construction activities. However, after prices increased, trading activity has slackened a little, which may exert some pressure on welded pipe prices. As for the week ahead, it is believed that welded pipe prices will continue their upward trend supported by demand.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

 $1 = RMB 7.095