Local Chinese steel pipe prices mostly down slightly, some stable

The local Chinese steel pipe market prices have mainly shown a decreasing trend during the past week.

Local Chinese seamless pipe prices have either moved sideways or down slightly in the past week. Overall trading activity has remained weak amid the ongoing slow recovery of both the upstream and downstream sides. Market inventories have increased, providing support for market prices. As for the week ahead, it is believed that domestic seamless pipe market will again indicate minor downticks or follow a stable trend.

The Chinese welded pipe prices have continued to move down slightly in the past seven days. Overall trading activity has been weak. Traders are mostly back at work but, since inventories are still high and they have mostly maintained a wait-and-see stance, while they have been more willing to offer discounts in order to close more deals. Upstream feedstock prices have recently shown a weak trend, putting some pressure on welded pipe prices. As for the week ahead, it is believed that local Chinese welded pipe market prices may again move down slightly.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.940