Local Chinese steel pipe prices move upwards

Thursday, 21 May 2020 16:38:37 (GMT+3)   |   Shanghai
       

The local Chinese steel pipe market has followed an upward trend during the past week.

Local Chinese seamless pipe prices have moved up slightly in the past seven days. Overall trading activity has increased and is at normal levels. Upstream billet prices have continued to rise and producers have also raised their seamless pipe quotations. Downstream demand has increased and so traders have mostly chosen to raise their offer prices slightly, by a smaller margins compared to last week. As for the week ahead, although the demand side has showed a strong performance, supply volumes have also increased somewhat, which puts some pressure on seamless pipe prices. Overall, it is thought that seamless pipe prices in China will just indicate small fluctuations in the coming week.

Chinese domestic welded pipe prices have indicated a strongly uptrend during the past week. Overall trading activity has continued to improve amid good weather conditions for construction activities. Supply has declined slightly contributing to declines in inventories in some parts of the country. Sentiment among traders is mostly positive, but some caution is also observed. As for the week ahead, it is believed that welded pipe prices may follow an upward trend again supported by increases on the upstream side.

Seamless pipe prices

Spec

Category

Origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Φ108 mm x 4.5 mm

20# (GB/T8162-1999)

Shanghai

4,200

593

50

Guangzhou

4,400

621

50

Beijing

4,390

619

50

Average price

4,330

611

50

Φ219 mm x 6 mm

20# (GB/T8163-1999)

Shanghai

4,250

600

50

Guangzhou

4,500

635

50

Beijing

4,490

634

50

Average price

4,413

623

50

 All the above prices include 13 percent VAT.

Welded pipe prices

Spec

Category

Origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Φ48 mm x 3.25 mm

Q195-Q215

Shanghai

4,080

576

110

Guangzhou

4,220

595

130

Beijing

4,060

573

110

Average price

4,120

581

117

Ф114 mm x 3.75 mm

Q215-Q235

Shanghai

4,090

577

110

Guangzhou

4,220

595

130

Beijing

3,990

563

110

Average price

4,100

579

117

All the above prices include 13 percent VAT.

$1 = RMB 7.087


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