Local Chinese steel pipe prices follow downward trend

Local Chinese steel pipe prices have followed a downward trend during the past week.

Local Chinese seamless pipe prices have followed a slightly soft trend during the past seven days. Overall trading activity has been weak. Upstream billet prices have indicated a downward trend, causing most seamless pipe producers to cut their quoted prices. Meanwhile, traders mostly hold a negative view of the sales season, which also exerts pressure on seamless pipe prices. As for the week ahead, it is believed that seamless pipe prices may fluctuate on a slightly soft trend.

Local Chinese welded pipe prices have also moved down during the past week. Overall trading activity remains weak during the current downtrend of prices. Prices of steel strip and other raw materials have declined, causing most welded pipe traders to follow suit. As for the week ahead, considering the support from the cost side is weakening and that demand remains at a low level, it is believed that welded pipe prices may continue to move down.

Seamless pipe prices

 All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 7.097