Local Chinese steel pipe prices mostly down slightly

Local Chinese steel pipe prices have mostly softened slightly during the past week.

As of August 5, 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 $971/mt (RMB 6,280/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $973/mt (RMB 6,297/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 $938/mt (RMB 6,070/mt) and $934/mt (RMB 6,040/mt) respectively. All the above prices include 13 percent VAT.

Chinese seamless pipe prices have moved sideways or fallen slightly in the past seven days. Overall trading activity has been weak due to the off-season. Prices of billet and other raw material have fallen recently, causing some traders to reduce their seamless pipe prices. But since other traders have high-cost stocks, they have kept their prices stable. As for the week ahead, amid weak upstream prices, it is believed that seamless pipe prices may follow a slight downtrend.

Local Chinese welded pipe prices have mostly indicated a slight downtrend during the past week. Overall trading activity has been slack due to the off-season, the hot summer weather and the coronavirus. Prices of steel strip and other raw materials have showed a downward trend recently, leading welded pipe prices to follow the same trend. As for the week ahead, it is believed that welded pipe prices may follow a downward trend.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.469