Local Chinese steel pipe prices mostly move on upward trend

Local Chinese steel pipe prices have indicated a mostly upward trend during the past week.

Chinese seamless pipe prices have followed a mostly upward trend during the past week. Prices of billet and other raw materials increased, causing most traders of seamless pipes to follow suit. Overall trading activity has improved a little, which also supported seamless pipe prices. However, market inventories have moved up somewhat and demand in northern China has been weak due to winter weather. As for the week ahead, it is believed that seamless pipe prices may follow a slightly upward trend again.

Chinese domestic welded pipe prices have risen by a small margin during the past week. Overall trading activity has slackened a little due to the cold weather. Increases in prices of steel strip and other raw materials have supported the rises in welded pipe prices. Traders are worries about the higher prices and do not want to increase their stock levels given the slack demand. As for the week ahead, it is believed that welded pipe prices may soften slightly.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.