Local Chinese steel pipe prices move down

Local Chinese steel pipe prices have showed a downward trend during the past week.

As of April 9, in China's three main steel markets, i.e., Shanghai, Guangzhou and Beijing, the average price of 20# (GB/T8162-1999) grade 108 mm x 4.5 mm seamless pipe now stands at $630/mt (RMB 4,447/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $642/mt (RMB 4,530/mt). Meanwhile, on the same date, Q195-215 grade 48 mm x 3.25 mm welded pipe and Q215-235 grade 114 mm x 3.75 mm welded pipe prices in the above markets are standing at $562/mt (RMB 3,967/mt) and $559/mt (RMB 3,947/mt) respectively. All the above prices include 13 percent VAT. ($1 = RMB 7.054)

Local Chinese seamless pipe prices have moved down in the past seven days. Overall trading activity has been at low levels. Upstream billet prices and seamless pipe producers’ quoted prices have both softened, causing most traders to cut their prices. The demand side is mostly maintaining a wait-and-see stance due to the weakness of raw material prices. Market inventory level has risen slightly, putting some pressure on market prices. As for the week ahead, it is believed that seamless pipe market prices may follow a slightly soft trend.

Chinese domestic welded pipe prices have declined in the past week. Overall trading activity has again become weak, leading most traders to reduce their quoted prices in order to close more deals. Upstream steel strip prices first moved down and then rebounded slightly and so some small upticks were seen in certain traders towards the end of the week. But most traders are still worried about raw material prices and do not want to increase stock levels during this period. As for the week ahead, it is believed that welded pipe prices may indicate a further slight softening.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.