Local Chinese steel pipe prices indicate minor fluctuations

Local Chinese steel pipe prices have indicated minor fluctuations during the past week. 

Local Chinese seamless pipe prices have mostly indicated slight upticks during the past week influenced by increases in billet prices. Overall trading activity has been at normal levels. However, due to the offseason, most traders still hold a negative view of the market prospects and have been willing to offer certain discounts in order to close more deals. As for the week ahead, considering market inventory is at relatively high levels and that demand may weaken further, it is believed that local seamless pipe prices may soften slightly.  

Chinese domestic welded pipe prices have mostly softened slightly in the past seven days. Overall trading activity due to the offseason and rainy weather has been weak. Upstream steel strip prices have indicated upticks. Amid low demand, most welded pipe traders chose to slightly reduce their quoted prices in order to close more deals. As for the week ahead, it is believed that domestic welded pipe market prices may again follow a soft 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 7.057