Local Chinese steel pipe prices show slight fluctuations

Local Chinese steel pipe prices have fluctuated by small margins during the past week.

Local Chinese seamless pipe prices have indicated some slight upticks in the past seven days. Overall trading activity has increased and is at normal levels. Since the weather has become less hot, construction spot demand has increased recently. Traders mostly hold a positive view of the prospects for the coming period. Prices of billet and other raw materials have lately indicated a slight rebound, providing some support for seamless pipe prices. As for the week ahead, it is believed that seamless pipe prices may indicate slight fluctuations in an upward direction.

Chinese domestic welded pipe prices have mostly moved sideways in the past week, though softening slightly in certain local markets. Overall trading activity has remained at weak levels. Pressure from environmental measures has eased a lot for the September period, causing production volumes to rise lately, but demand has not shown any improvement. With the busy season for sales approaching, most traders have chosen to keep prices stable and are waiting demand to improve. Traders slightly reduced their prices in certain local markets in order to close more deals. As for the week ahead, it is believed that domestic welded pipe prices may just indicate slight fluctuations. 

 All the above prices include 13 percent VAT.

 $1 = RMB 7.09