Local Chinese steel pipe prices mostly indicate slight rebound

Local Chinese steel pipe prices have mostly followed a slight uptrend during the past week.

Chinese seamless pipe prices have either moved sideways or risen slightly during the past week. Overall trading activity has recovered a little but is still weak due to the off-season and the hot and rainy weather in most districts. Most traders hold a negative view of the market prospects and are not willing to increase their stock levels. As for the week ahead, it is believed that seamless pipe prices may just indicate minor fluctuations.

Chinese domestic welded pipe prices have followed a slightly upward trend during the past week. Overall trading activity has increased and is at normal levels. Prices of steel strip and other raw materials have rebounded slightly, causing welded pipe prices to mostly follow suit, but with relatively smaller increase margins. Traders are mainly keeping inventories at low levels in order to avoid risks. As for the week ahead, it is believed that welded pipe prices may fluctuate on an upward 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 6.471