Local Chinese steel pipe prices mostly continue to rise

Local Chinese steel pipe prices have continued a mostly upward movement during the past week.

Local Chinese seamless pipe prices have mostly moved up during the past seven days. With prices of billet and other raw materials following an upward trend, most seamless pipe producers have raised their quoted prices slightly, causing the majority of traders to follow suit. Overall trading activity has improved slightly, while traders have mainly not been willing to increase their stock levels. As for the week ahead, it is believed that seamless pipe prices may just fluctuate slightly, while recent price increases may negatively impact demand.

Chinese domestic welded pipe prices have continued their mostly upward trend during the past week. Overall trading activity has decreased since pipe prices have recently maintained their upward trend. Prices of steel strip and of other raw materials are still rising, giving strong support to welded pipe prices. Meanwhile, the supply volumes have been declining due to production restrictions in certain areas of the country. As for the week ahead, it is believed that welded pipe prices may follow a fluctuating trend, against the backdrop of weak demand and support from the cost side.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.548