Local Chinese steel pipe prices mostly stable   

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

Chinese domestic seamless pipe prices have followed a mainly stable trend in the past seven days, though with increases in certain areas due to low market inventory. Billet prices have followed a fluctuating trend, which has provided some support for seamless pipe prices. Meanwhile, demand has remained weak due to the approach of the holiday period and due to coronavirus measures. As for the week ahead, it is believed that local seamless pipe prices may continue their mostly stable trend.

Local Chinese welded pipe prices have indicated a mostly stable trend in the past week, though with some slight downticks also seen. Overall trading activity has been weak due to the off-season. The support from upstream steel strip prices is still strong. As for the week ahead, it is believed that domestic welded pipe prices may remain mostly stable due to the proximity of the Chinese New Year holiday, while trading activity will likely remain at very low levels.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.485