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

Local Chinese steel pipe prices mostly have mostly been stable in the past week, with some small declines in prices also seen.

Local Chinese seamless pipe prices have indicated a stable trend during the past week. Overall trading activity has remained weak. Billet prices have rebounded both in the spot and futures markets, providing strong support for seamless pipe prices. Meanwhile, demand has improved slightly and so most traders have preferred to hold their quoted prices stable for now. As for the week ahead, considering the support from the cost side, it is believed that seamless pipe prices may indicate minor fluctuations amid the current weakness of demand.

Chinese domestic welded pipe prices have mostly indicated a minor softening. Overall trading activity has remained slack due to the offseason and cold weather. Upstream steel strip prices have risen, giving support to welded pipe prices. Production volumes have lately increased, causing market inventory to increase slightly. As for the week ahead, considering that the weakness of demand may continue, it is believed that welded pipe prices may continue to soften slightly.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.350