Local Chinese steel pipe prices mostly stable, with some slight downticks also

The local Chinese steel pipe market has been mostly stable in the past seven days, with some slight decreases in prices also seen.

The local Chinese seamless pipe market has been mainly stable in the past week, though with some minor decreases observed in some prices. Overall trading activity has been weak. While the previous shortages of certain products had caused some seamless pipe prices to rise slightly, production volumes have increased recently and inventory levels have also risen. Downstream demand has also improved. However, most traders are still somewhat downbeat on the prospects for the seamless pipe market. As for the week ahead, it is believed that seamless pipe market prices may show a mostly stable trend. 

Local Chinese welded pipe prices have followed a mainly stable trend in the past seven days, with slight downticks also seen. Trading activity has remained at low levels. While upstream steel strip prices have softened slightly, most traders have chosen to keep their welded pipe prices. Downstream demand is still weak, influenced by the off-season and bad weather conditions. Meanwhile, supply volumes have recently risen slightly. As for the week ahead, it is believed that domestic welded pipe prices will mostly soften by a small margin.

 $1 = RMB 7.05