Local Chinese steel pipe prices indicate minor fluctuations

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

Chinese seamless pipe prices have continued to soften slightly during the past seven days, but the decrease margins have been relatively small. Prices of billet and other raw materials prices have recovered a little both in the spot and futures markets. While demand for seamless pipes has mainly remained weak and most traders have been willing to offer discounts in order to close more deals. As for the week ahead, it is believed that seamless pipe prices resume a stable trend amid the recovery of demand.

Local Chinese welded pipe prices have risen slightly during the past week. Overall trading activity has increased and is at normal levels. Prices of steel strip and other raw materials have been rebounding, providing strong support for welded pipe prices. Demand has recovered but supply volumes have also increased. As for the week ahead, considering that the support from the cost side is still strong, it is believed that welded pipe prices may continue to move up by small margins.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.681