Local Chinese steel pipe prices mostly decline

The local Chinese steel pipe prices have moved down during the past week.

As of June 24, 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 $960/mt (RMB 6,223/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $963/mt (RMB 6,240/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 $895/mt (RMB 5,800/mt) and $890/mt (RMB 5,770/mt) respectively. All the above prices include 13 percent VAT. ($1 = RMB 6.482)

Chinese domestic seamless pipe prices have decreased in the past seven days. Overall trading activity has been weak due to the current off-season. Upstream billet prices have softened, contributing to the declines in seamless pipe prices. Inventories are still at high levels, which also exerts pressure on seamless pipe prices. As for the week ahead, it is believed that seamless pipe prices may fluctuate on a downward trend.

Chinese domestic welded pipe prices have fluctuated on a downward trend during the past week, mainly due to decreases in upstream prices of steel strip and other raw material prices. Demand has been weak due to the off-season and the hot and rainy weather. As for the week ahead, it is believed that domestic welded pipe prices may decline slightly.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.