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

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

Local Chinese seamless pipe prices have mostly moved sideways in the past week, with slight decreases also seen in a few local markets. Overall trading activity has been slacker due to the approach of the Chinese New Year holiday period. Sentiment among traders has been mostly negative and a few of them have chosen to slightly reduce quotations in order to close more deals. As for the week ahead, considering that demand may continue to slacken and that most traders are unwilling to change their prices, it is believed that the local seamless pipe market will be mainly stable, with some small downticks also possible.

Chinese domestic welded pipe prices have followed a stable trend in the past seven days though with some minor declines in prices observed also. Overall trading activity has been weak. Upstream steel strip prices have softened slightly, causing small downticks in some welded pipe prices. Downstream demand was slack in the last week of the year. Traders have been focusing on sales and have been willing to offer discounts in order to close more deals. As for the week ahead, it is believed that Chinese domestic welded pipe prices will again be mainly stable, with a few minor declines also anticipated. 

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.96