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 continued their soft trend during the past week. Overall trading activity has improved a little but is still weak. Upstream billet prices first declined and then rebounded. Production of seamless pipes has increased as well as market inventories, exerting strong pressure on seamless pipe prices. As for the week ahead, it is believed that seamless pipe prices may rebound slightly as support from the cost side improves.

Chinese domestic welded pipe prices have continued to move down during the past week. Overall trading activity remains weak. Prices of steel strip and other raw materials have increased lately, providing some support for welded pipe prices. However, since demand is still slack, most traders have cut their quoted prices in order to close more deals. As for the week ahead, it is believed that welded pipe prices may move up a little due to increases on the cost side.

Seamless pipe prices

All the above prices include 13 percent VAT.

Welded pipe prices

All the above prices include 13 percent VAT.

$1 = RMB 7.094