Local Chinese steel pipe prices move sideways or rise slightly

The local Chinese steel pipe prices have moved sideways or up slightly in the past week.

Local Chinese seamless pipe prices have followed a stable in the past seven days, though with price increases also seen in some areas. Overall trading activity has been sluggish. Prices of billet and of other raw materials have recently increased both in the spot and futures markets, though most traders still chose to keep their prices stable in order to close more deals, given the weakness of demand. As for the week ahead, since demand is still weak while costs have kept increasing, it is believed that local seamless pipe prices may just indicate small fluctuations.

Chinese domestic welded pipe prices have indicated some slight upticks during the past week. Overall trading activity has been at low levels since southern China has still been feeling the impact of rainy weather conditions. But demand in some areas has improved a little and restrictions on production in Tangshan have also provided some support for welded pipe prices. As for the week ahead, considering the support from higher upstream costs, it is believed that domestic welded pipe prices may continue to follow a slight uptrend.  

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 7.009