Local Chinese steel pipe prices move sideways or soften slightly

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

Chinese domestic seamless pipe prices have continued their stable trend during the past seven days even though billet prices have softened, with low inventory levels providing support for seamless pipe prices. Overall trading activity has remained at low levels. As for the week ahead, it is believed that domestic seamless pipe prices will follow a downward trend due to the current offseason and given the lack of support from prices on the upstream side.

Local Chinese welded pipe prices have followed a slightly downward trend during the past week, with decreases in steel strip prices causing most traders to lower their welded pipe prices. Trading activity has been at low levels. Sentiment among most traders is negative due to the weakness of demand and they are not willing to increase their stock levels. As for the week ahead, it is believed that domestic welded pipe prices may continue their slight downtrend. 

 
All the above prices include 13 percent VAT.

 $1 = RMB 7.052