Local Chinese steel pipe prices mostly move sideways

Local Chinese steel pipe prices have continued their mostly stable trend during the past week.

Chinese domestic seamless pipe prices have continued their stable movement during the past seven days, while overall trading activity has remained at weak levels. Market inventory and supplies have recently increased. The demand side is still sluggish due to the approach of the holiday period. As for the week ahead, it is believed that domestic seamless pipe prices may again move sideways.

Local Chinese welded pipe prices have been mostly stable during the past week, though with slight reductions seen in certain local markets. Overall trading activity has remained weak due to the approach of the holiday period. Upstream steel strip prices have decreased slightly, causing some traders to make minor downward adjustments to prices, though the approaching holiday has caused most traders to keep their prices stable. As for the week ahead, it is believed that domestic welded pipe prices may continue to follow a stable trend. 

All the above prices include 13 percent VAT.

$1 = RMB 7.07