Slow activity in Chinese steel pipe market

Friday, 06 January 2012 17:24:32 (GMT+3)   |  
As of January 6, 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 $843/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $877/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 $711/mt and $713/mt. All the above prices include 17 percent VAT.
 
Activity in the Chinese seamless pipe market has been on the sluggish side in the past week, while offer prices have generally remained stable. With the Chinese Spring Festival approaching and trading activity at low levels, some traders are planning to go on holiday earlier than usual. Traders are maintaining a cautious approach.
 
The welded pipe market in China has been characterized by a slight downtrend in the past week. The downsteam market is already in its off-season and demand is very low. Fluctuations in upstream raw material prices are also exerting an influence on welded pipe prices in China.

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