Local Chinese steel pipe prices mostly indicate slight increases

Local Chinese steel pipe prices have mostly risen by minor margins during the past week.

As of July 15, 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 6,207/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $963/mt (RMB 6,223/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 $920/mt (RMB 5,957/mt) and $915/mt (RMB 5,917/mt) respectively. All the above prices include 13 percent VAT.

Local Chinese seamless pipe prices have either moved sideways or risen slightly during the past week, with increases in billet prices providing support for prices. Overall trading activity has been slack due to the hot and rainy weather. With demand remaining weak, many traders have chosen to keep their quoted prices stable. As for the week ahead, it is believed that seamless pipe prices may indicate slight fluctuations.

Chinese domestic welded pipe prices have continued to increase during the past week, rising by small margins, supported by rises in prices of steel strip and other raw materials. Trading activity has improved slightly but is still at low levels due to the off-season. As for the week ahead, it is believed that welded pipe prices may fluctuate amid a weakening of support from raw material prices.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.464