Local Chinese steel pipe prices keep rising 

Local Chinese steel pipe prices have continued their upward trend during the past week. 

Chinese seamless pipe prices have continued their upward trend during the past seven days. Overall trading activity has been at a normal level. Upstream billet prices have indicated a fluctuating trend but most seamless pipe producers have chosen to increase their quoted prices slightly, causing most traders to follow suit. Traders are mainly cautious due to the ongoing rises in prices and are not so willing to increase their stock levels. As for the week ahead, it is believed that seamless pipe prices in China may fluctuate at the current high levels.

Local Chinese welded pipe prices have followed a rising trend again during the past week. Overall trading activity has been at normal levels and market inventory has declined. Prices of steel strip and other raw materials have fluctuated on an upward trend, giving strong support for welded pipe prices. Demand has increased since the downstream segment has fully recovered. As for the week ahead, it is believed that domestic welded pipe prices may rise further.

Seamless pipe prices 

 All the above prices include 13 percent VAT.

Welded pipe prices 

All the above prices include 13 percent VAT.

$1 = RMB 6.528