Local Chinese steel pipe prices mostly move down slightly

Local Chinese steel pipe prices have mostly softened slightly during the past week, with some prices also stable.

Chinese domestic seamless pipe prices have either moved sideways or declined slightly in the past seven days. Overall trading activity is at weak levels. Upstream billet prices have indicated minor declines, but seamless pipe producers have kept their quotations stable. Since demand has slackened further, some traders have chosen to cut their prices by a small margin, though most traders have kept their prices stable as support from costs is still strong. As for the week ahead, it is believed that domestic seamless pipe market prices may remain stable, with some small downticks also possible.

Local Chinese welded pipe prices have moved down slightly during the past week. Overall trading activity has continued to slacken and is at weak levels. Market inventory has increased further and traders do not want to buy in further stocks. Since the Chinese New Year holiday is approaching, it is believed that demand will weaken further and that welded pipe prices may continue their slight downtrend.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.95