Local Chinese steel pipe prices keep rising

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

Chinese domestic seamless pipe prices have continued their rising trend during the past seven days. Overall trading activity has increased and is at normal levels. Prices of billet and other raw materials prices have also continued to rise, causing seamless pipe prices to follow suit. Supply volumes have recently increased, which may exert negative pressure on seamless pipe prices. As for the week ahead, it is believed that seamless pipe prices may again follow an upward trend, with some fluctuations possible.

Local Chinese welded pipe prices have maintained a strong upward trend during the past week. Overall trading activity has been at normal levels. On the upstream side, prices of steel strip and other raw materials have continued to move up. But demand for welded pipes has slackened slightly due to the ongoing price rises and some traders have preferred to hold on to their stocks and wait for higher prices. 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 though by smaller 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 6.5463