Trading activity remains sluggish in local Chinese steel pipe market 

Prices in the local Chinese steel pipe market have either moved sideways or edged upwards slightly in the past week.

As of November 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 $847/mt (RMB 5,600/mt), with 20# (GB/T8163-1999) grade 219 mm x 6 mm seamless pipe at $840/mt (RMB 5,550/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 $718/mt (RMB 4,747/mt) and $714/mt (RMB 4,717/mt) respectively. All the above prices include 17 percent VAT. ($1 = RMB 6.61)

The local Chinese seamless pipe market, where activity is still at low levels due to the offseason and the approach of the end of the year, has mostly moved sideways in the past seven days, though with increases seen in some product prices due to support from higher billet prices. As for the coming week, domestic seamless pipe prices may continue their mostly stable trend, with slight upticks also possible due to support from raw material costs.  

Despite sluggish demand, the Chinese domestic welded pipe market has mostly moved on a slight uptrend in the past week amid increased steel strip prices. Given the ongoing offseason and production restrictions, there has been no improvement in trading activity. For the week ahead, the local welded pipe market may continue its slight upward movement.

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

$1 = RMB 6.62