Local Chinese steel pipe prices rise strongly

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

Chinese seamless pipe prices have followed an upward trend during the past week. Downstream demand has recovered gradually and trading activity is now at normal levels. Prices of billet and other raw materials have increased significantly, causing seamless pipe prices to follow suit. As for the week ahead, considering the strong support from the cost side and the recovery of demand, it is believed that seamless pipe prices will continue to rise.

Chinese welded pipe prices have risen strongly in the past seven days. Upstream, prices of steel strip and other raw materials have showed a strong upward trend, thus also pushing up welded pipe prices. Trading activity has increased, but is still at normal levels since most downstream users are still resuming activities after the holiday. Market inventory levels have increased slightly. As for the week ahead, it is believed that welded pipe prices may follow an upward trend again.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices 

All the above prices include 13 percent VAT.

$1 = RMB 6.4522