Local Chinese steel pipe prices mostly stable

Local Chinese steel pipe prices have mostly followed a stable trend during the past week.

Local Chinese seamless pipe prices have mainly moved on a stable trend in the past seven days, though with small upticks seen in certain local markets. Overall trading activity has remained at low levels due to the hot weather. Upstream billet prices have risen slightly, leading some seamless pipe traders to follow suit. Low-priced stocks are becoming scarcer in the market and so support from the cost side is strong. As for the week ahead, it is believed that seamless pipe prices may fluctuate at high levels.

Chinese domestic welded pipe prices have indicated a stable trend during the past week. Although demand is still weak due to the influence of adverse weather conditions, most traders have chosen to hold their prices stable in order to close more deals, and also given the increases seen in steel strip prices. Certain traders have been willing to offer discounts to reduce their stock levels and collect more cash as the end of the month draws closer. As for the week ahead, it is believed that domestic welded pipe prices may fluctuate on a slightly soft 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 6.890