Local Chinese steel pipe prices rise slightly

Local Chinese steel pipe prices have indicated a slightly upward trend during the past week.  

Chinese domestic seamless pipe prices have mainly moved upwards during the past seven days. Overall trading activity has been at low levels. Upstream billet prices and other raw material prices have recently indicated a strong performance, leading most seamless pipe producers to increase their quoted prices. Traders have mostly followed the upward trend but, since the demand side has remained weak, slightly discounts may be offered during actual deals. As for the week ahead, it is believed that seamless pipe prices may fluctuate within a small margin considering the weakness of demand and strong upstream support.  

Local Chinese welded pipe prices have indicated minor upticks during the past week. Prices of steel strip and of other raw materials have increased strongly, causing producers of welded pipes to mostly increase their quoted prices. However, since demand has remained weak due to the offseason and hot weather, traders have generally increased their welded pipe prices only by slight margins. As for the week ahead, it is believed that welded pipe prices in China may just indicate minor fluctuations.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.944