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Overview: This week, prices in East China showed an overall downward trend, with merchant sales volumes gradually decreasing. In Shandong, hot-rolled pipe billet prices increased by ¥20/ton week-on-week, while the prices of seamless pipes in the region remained stable. The East China steel pipe market weakened, with demand declining.
Price Trends:
In East China, steel pipe prices fell this week. The main cities saw a decrease in welded pipe prices by ¥30–40/ton, and galvanized pipe prices dropped by ¥20–30/ton. The prices for seamless pipes in East China remained stable.
Welded and Galvanized Pipes:
Shanghai: Welded pipes ¥3,870/ton, galvanized pipes ¥4,540/ton
Nanjing: Welded pipes ¥3,790/ton, galvanized pipes ¥4,580/ton
Hangzhou: Welded pipes ¥3,900/ton, galvanized pipes ¥4,580/ton
Seamless Pipes:
Shandong hot-rolled pipe billet prices rose by ¥20/ton this week, but seamless pipe prices remained stable in the region.
Shanghai: Seamless pipes ¥4,440/ton
Nanjing: Seamless pipes ¥4,320/ton
Hangzhou: Seamless pipes ¥4,420/ton
Supply Outlook:
The weekly production of welded pipes by sample enterprises was 341,600 tons, a decrease of 5,000 tons compared to last week. Inventory increased by 1.6 million tons, while raw material inventory rose by 4.6 million tons.
The production of galvanized pipes decreased by 5,000 tons to 277,800 tons, with factory inventory rising by 6,600 tons, and zinc consumption dropping by 4 tons.
For seamless pipes, production increased by 1.7 million tons, while factory inventory decreased by 1.8 million tons, and raw material inventory saw a slight decrease.
Demand Outlook: The East China steel pipe market has weakened this week, with lower trading volumes and weaker demand from downstream sectors.
Market Sentiment: With a macroeconomic lull, market sentiment is mostly neutral, as merchants remain cautious and observe market trends.
We expect East China's steel pipe market to continue its weak trend with slight fluctuations in the coming week.
