Local Chinese steel pipe prices mostly decline

Local Chinese steel pipe prices have mostly moved down during the past week.

As of August 19, 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 $965/mt (RMB 6,257/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $967/mt (RMB 6,273/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 $932/mt (RMB 6,047/mt) and $928/mt (RMB 6,017/mt) respectively. All the above prices include 13 percent VAT.

Chinese seamless pipe prices have mostly declined in the past seven days, influenced by the weakness of prices of billet and other raw materials. Overall trading activity is slack. Traders have been willing to offer certain discounts in order to close more deals. As for the week ahead, it is believed that seamless pipe prices may soften slightly.

Chinese domestic welded pipe prices have indicated a decrease during the past week. Overall trading activity has been at low levels. Sentiment among traders is mostly negative and they have been willing to reduce their quoted prices in order to close more deals. Prices of steel strip prices and other raw materials have declined, causing welded pipe prices to follow suit. As for the week ahead, it is believed that welded pipe prices in China may move down by small 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 6.485