Local Chinese steel pipe prices mostly stable

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

Local Chinese seamless pipe prices have followed a stable trend during the past seven days. Overall trading activity has remained weak against the backdrop of the off-season and the cold weather. Upstream billet prices have fluctuated by small margins and raw material prices have lately showed an upward trend, which has provided some support for seamless pipe prices. As for the week ahead, considering the support from the cost side and the weakness of demand side, it is believed that seamless pipe prices may just indicate minor fluctuations.     

Local Chinese welded pipe prices have moved sideways or softened slightly during the past week, with some traders willing to reduce prices in order to close more deals, though some support has been coming from upticks in prices of steel strip and raw materials. Overall trading activity is still slack. As for the week ahead, it is believed that welded pipe prices may continue their mostly stable trend, with some minor downticks also possible.   

Seamless pipe prices   

 All the above prices include 13 percent VAT.  

Welded pipe prices  

All the above prices include 13 percent VAT. 

$1 = RMB 7.118