Local Chinese steel pipe prices move upwards or sideways

The local Chinese steel pipe market has seen upward and sideways movement during the past week.

As of April 11, 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 $720/mt (RMB 4,833/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $733/mt (RMB 4,917/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 $650/mt (RMB 4,360/mt) and $643/mt (RMB 4,313/mt) respectively. All the above prices include 13 percent VAT.

Local Chinese seamless pipe prices have mostly moved sideways during the past seven days, with some upticks also seen. Overall trading activity has increased after the holiday and is now at normal levels. Upstream billet prices have increased and demand has improved, leading to upticks in some seamless pipe prices. As for the week ahead, it is believed that local seamless pipe prices may fluctuate on an upward trend.

Chinese domestic welded pipe prices have mostly followed a slight uptrend in the past week. Overall trading activity has been at normal levels. Upstream steel strip prices have showed an upward trend. Some welded pipe producers have chosen to follow the trend of steel strip prices, while most traders have just slightly raised their prices in order to close more deals. As for the week ahead, it is believed that domestic welded pipe prices may follow an upward trend with support from higher costs and improved trading activity.

13 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 6.72