Local Chinese steel pipe prices mostly stable

Local Chinese steel pipe prices have followed a mostly stable trend in the past week, though with some slight fluctuations seen.

Local Chinese seamless pipe prices have been mostly stable in the past seven days, with some minor downticks seen in prices in certain local market. Overall trading activity has been weak, which has caused a few traders to reduce their quoted prices in order to close more deals. Upstream billet prices have moved sideways or with some small upticks, while seamless pipe inventory has increased recently. As for the week ahead, it is believed that seamless pipe prices may follow a slightly soft trend.

Chinese domestic welded pipe market prices have mainly moved sideways in the past week, though with some upticks also observed. In the given week, upstream steel strip prices first increased but then moved back down, while sentiment among welded pipe traders is mostly negative since demand has remained weak. Market inventory has increased which puts pressure on welded pipe prices. As for the week ahead, it is believed that welded pipe prices may fluctuate on a 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 6.656