Local Chinese steel pipe prices mostly increase

The local Chinese steel pipe market has followed a mainly upward trend during the past week.

Local Chinese seamless pipe prices have mostly moved up in the past seven days. Overall trading activity has been weak. Since upstream billet prices have increased, most traders have chosen to follow suit but the increase margin is relatively smaller due to the slackness of demand. Certain traders have been willing to offer certain discounts in order to close more deals. As for the week ahead, it is believed that domestic seamless pipe prices could indicate slight downticks.

Chinese domestic welded pipe prices have showed a mostly upward trend during the past week, while trading activity has increased slightly and is at normal levels. Increases in prices of steel strip and other raw materials have led welded pipe producers and traders to mostly choose to increase their prices. Sentiment among traders is generally positive amid the improvement in demand. As for the week ahead, it is believed that domestic welded pipe prices may increase by a small margin.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 7.101