Trading activity at low levels in local Chinese steel pipe market

Friday, 08 June 2018 13:56:18 (GMT+3)   |   Shanghai
       

Prices in the local Chinese steel pipe market have either remained stable or risen slightly in past week.

As of June 7, 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 $790/mt (RMB 5,067/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $814/mt (RMB 5,217/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 $698/mt (RMB 4,477/mt) and $691/mt (RMB 4,430/mt) respectively. All the above prices include 16 percent VAT.

The local Chinese seamless pipe market has been mostly stable in the past week, with some slight upticks seen in eastern China amid production cuts due to the SCO summit. Overall trading activity is weak and is unlikely to improve due to the approaching offseason. Upstream billet prices have risen slightly. As for the coming week, it is thought that domestic seamless pipe prices will rise slightly. 

The local Chinese welded pipe market has mostly moved up slightly in the past week supported by rises in upstream steel strip prices, though some prices have moved sideways, while trading activity for welded pipes has remained at low levels amid low demand from the construction sector due to hot weather and environmental protection measures. With demand unlikely to improve, traders are mostly downbeat on the prospects for the market and are unwilling to increase inventories. As for the week ahead, it is believed that welded pipe prices may soften slightly.

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

4,950

772

↑50

Guangzhou

Shandong

5,250

819

0

Beijing

Angang

5,000

780

0

Average price

-

5,067

790

↑17

Φ219 mm x 6 mm

20# (GB/T8163-1999)

Shanghai

Zhenda

5,200

811

↑50

Guangzhou

Angang

5,350

835

0

Beijing

Shandong

5,100

796

0

Average price

-

5,217

814

↑17

Welded pipe

Φ48 mm x 3.25 mm

Q195-Q215

Shanghai

Tangshan

4,470

697

0

Guangzhou

Guangzhou

4,600

718

↑30

Beijing

Jinghua

4,360

680

↑40

Average price

-

4,477

698

↑23

Ф114 mm x 3.75 mm

Q215-Q235

Shanghai

Huaqi

4,380

683

0

Guangzhou

Guangzhou

4,600

718

↑30

Beijing

Zengzhou

4,310

672

↑40

Average price

-

4,430

691

↑23

 

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

$1 = RMB 6.41


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