Local Chinese steel pipe prices mostly continue to fall

Thursday, 25 November 2021 14:20:13 (GMT+3)   |   Shanghai
       

The local Chinese steel pipe prices mostly have continued their downward trend during the past week.

As of November 25, in China's three main steel markets, i.e., Shanghai, Guangzhou and Beijing, the average price of 20# (GB/T8162-1999) grade 108 mm x 4.5 mm seamless pipe now stands at $954/mt (RMB 6,107/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $956/mt (RMB 6,117/mt). Meanwhile, on the same date, Q195-215 grade 48 mm x 3.25 mm welded pipe and Q215-235 grade 114 mm x 3.75 mm welded pipe prices in the above markets are standing at $863/mt (RMB 5,520/mt) and $858/mt (RMB 5,490/mt) respectively. All the above prices include 13 percent VAT.

Chinese seamless pipe prices have mostly declined during the past week. Overall trading activity has remained weak. Recently raw material prices have rebounded both in the spot and futures markets, providing support for seamless pipe prices. Pipe producers are mainly intent on reducing their production volumes, and so supply may remain at low levels. As for the week ahead, it is believed that seamless pipe prices may rebound slightly with the support of increases in raw material prices.

Local Chinese welded pipe prices have followed a mostly downward trend during the past week. Overall trading activity has been slow. Prices of steel strip and other raw materials have followed an upward trend. But demand is very low due to the winter weather, most traders still choose to reduce their quoted prices in order to close more deals. As for the week ahead, it is believed that welded pipe prices may decrease slightly.

Seamless pipe prices

Spec

Category

Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Φ108 mm x 4.5 mm

20# (GB/T8162-1999)

Shanghai

6,000

938

-50

Guangzhou

6,200

969

0

Beijing

6,120

957

-230

Average price

6,107

954

-93

Φ219 mm x 6 mm

20# (GB/T8163-1999)

Shanghai

6,000

938

-50

Guangzhou

6,200

969

0

Beijing

6,150

961

-230

Average price

6,117

956

-93

 All the above prices include 13 percent VAT.

Welded pipe prices

Spec

Category

Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Φ48 mm x 3.25 mm

Q195-Q215

Shanghai

5,590

874

0

Guangzhou

5,530

864

-90

Beijing

5,440

850

-130

Average price

5,520

863

-73

Ф114 mm x 3.75 mm

Q215-Q235

Shanghai

5,600

875

0

Guangzhou

5,530

864

-90

Beijing

5,340

835

-130

Average price

5,490

858

-73

All the above prices include 13 percent VAT.

$1 = RMB 6.398


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