Slow trading activity in local Chinese steel pipe market

The Chinese seamless pipe market has mostly moved on a stable trend in the past week, with some slight upticks also observed, while some minor decreases have been witnessed in the domestic welded pipe market. 
 
As of April 24, 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 $669/mt, with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $710/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 $587/mt and $588/mt respectively. All the above prices include 17 percent VAT.
 
In the past seven days, China's domestic seamless pipe market has mostly followed a stable trend, though with slight increases also seen in certain local markets due to the influence of minor upticks in billet prices. At the same time, however, trading activity has remained slack. For the coming week, it is thought that local Chinese seamless pipe prices will likely indicate sideways movement.
 
The Chinese domestic welded pipe market has seen slight downticks in prices in the past week due to slow trading activity. Traders have had to reduce their prices to attract orders, while some small improvement in activity has started to be observed at the slightly lower prices. Local welded pipe prices are expected to follow a stable trend in the week ahead.