No major changes in sluggish Chinese domestic steel pipe market

The Chinese domestic steel pipe market has mostly moved on a stable trend during the past week. 
 
As of July 16, 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 $500/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $513/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 $385/mt and $389/mt respectively. All the above prices include 17 percent VAT.
 
The local Chinese seamless pipe market has followed a stable trend during the past week, while overall trading activity has remained slack. Traders state that, with the weather become hotter, demand is unlikely to improve. Meanwhile, stocks have remained at low levels. It is believed that local seamless pipe prices will move sideways in the coming week given the stability of billet prices.
 
Chinese domestic welded pipe prices have mostly remained stable in the past week, though with some slight upticks seen also. While trading for welded pipes has continued to be slack, steel strip prices have rebounded, providing support for welded pipe prices. It is expected that local welded pipe prices will just fluctuate within a very narrow range in the coming week.

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

$1 = RMB 6.21