Local Chinese steel pipe prices soften slightly

Thursday, 30 May 2019 16:30:33 (GMT+3)   |   Shanghai
       

The local Chinese steel pipe market has indicated a slight downtrend during the past week.

As of May 30, 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 $678/mt (RMB 4,667/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $690/mt (RMB 4,750/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 $635/mt (RMB 4,370/mt) and $629/mt (RMB 4,327/mt) respectively. All the above prices include 13 percent VAT.

The local Chinese seamless pipe market has moved down by a small margin during the past seven days. Overall trading activity has remained at low levels. Prices of billet and raw materials have increased. However, due to the end of the month and the low trading activity, most traders have chosen to make minor reductions to their prices in order to close more deals. Certain parts of China have been experiencing very hot weather conditions, which have strongly impacted the demand side. Most traders are currently pessimistic due to the off-season. Amid these conditions, it is believed that domestic seamless pipe prices may again soften by a small margin in the week ahead.

The Chinese domestic welded pipe market has mostly followed a slightly soft trend during the past week. Overall trading activity is at low levels due to the off-season and hot weather conditions. The upward trend of steel strip prices has provided some support for welded pipe prices. However, since demand has remained weak, most traders are willing to offer discounts or to reduce prices slightly in order to close more deals. The majority of traders hold a pessimistic view of the prospects for the coming period. As for the week ahead, it is believed that local welded pipe prices may move down slightly, with small fluctuations.

Product Name

Spec.

Category

City

Steel Plant/Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change (RMB/mt)

Seamless pipe

Φ108 mm x 4.5 mm

20# (GB/T8162-1999)

Shanghai

Wuxi

4,550

658

↓50

Guangzhou

Shandong

4,850

702

↓50

Beijing

Angang

4,600

666

↓50

Average price

-

4,667

675

↓50

Φ219 mm x 6 mm

20# (GB/T8163-1999)

Shanghai

Zhenda

4,600

666

↓50

Guangzhou

Angang

4,950

716

↓50

Beijing

Shandong

4,700

680

↓50

Average price

-

4,750

687

↓50

Welded pipe

Φ48 mm x 3.25 mm

Q195-Q215

Shanghai

Tangshan

4,310

624

↓20

Guangzhou

Guangzhou

4,500

651

0

Beijing

Jinghua

4,300

622

↓20

Average price

-

4,370

632

↓13

Ф114 mm x 3.75 mm

Q215-Q235

Shanghai

Huaqi

4,250

615

↓20

Guangzhou

Guangzhou

4,500

651

0

Beijing

Zengzhou

4,230

612

↓20

Average price

-

4,327

626

↓13

 

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

$1 = RMB 6.91


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