Local Chinese steel pipe prices move sideways or soften slightly

Local Chinese steel pipe prices have either moved sideways or softened slightly during the past week.

Chinese domestic seamless pipe prices have mostly indicated slight decreases in the past seven days. Overall trading activity has been at low levels. The minor reductions in upstream billet prices and the weak demand for seamless pipes have been the main factors contributing to the soft price trend. Traders are mostly downbeat are the traditional sales season is close to its end. As for the week ahead, it is believed that domestic seamless pipe prices may move down further by slight margins.

The local Chinese welded pipe market has been mainly stable in the past week, though with some slight downticks seen in certain local markets in the country. Trading activity has slightly increased but mostly because traders are willing to offer some discounts at the end of the month. Upstream steel strip prices are mostly unchanged, which gives some support to welded pipe prices. As for the week ahead, since the off-season is coming, it is believed that domestic welded pipe prices may move down slightly. 

All the above prices include 13 percent VAT.

 $1 = RMB 7.06