Local Chinese steel pipe prices rise slightly

The local Chinese steel pipe prices have increased by small margins during the past week.

As of March 31, 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 $986/mt (RMB6,260/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $990/mt (RMB 6,287/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 $881/mt (RMB 5,590/mt) and $876/mt (RMB 5,563/mt) respectively. All the above prices include 13 percent VAT.

Chinese seamless pipe prices have moved up during the past seven days on the back of increases in raw material and billet prices. Overall trading activity has been weak due to coronavirus restriction measures. Market inventory levels have risen slightly. As for the week ahead, it is believed that seamless pipe prices may indicate minor fluctuations.

Local Chinese welded pipe prices have followed an upward trend during the past week, supported by rises in prices of steel strips and raw materials. Trading activity has remained at low levels due to coronavirus restriction measures in some regions. As for the week ahead, it is believed that welded pipe prices may fluctuate slightly, while demand is foreseen to remain weak.

Seamless pipe prices

All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 6.348 (March 31)