Monthly Steel Pipe Market Report Aug 2019
2019-09-05 13:52:01 【Print】
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1. Market Highlights
Prices for welded pipe declined obviously in major Chinese domestic markets during the month, following the significant price drop of raw materials such as iron ore and steel billet, while those for seamless pipe increased slightly boosted by short supply of tubing blank caused by pollution curbs. Reporting limited sales volumes, most traders showed little confidence in the market prospect and were cautious about supplementing inventories. On the one hand, the rigid demand from downstream industries remained insufficient, while on the other hand, end users refused to build stockpiles and only purchased according to urgent needs, both leading to a dim market. In the meantime, prices for steel pipe declined slightly in other Asian markets during the month. Insiders foresee a price decrease for steel pipe next month.
Prices for welded pipe declined obviously in major Chinese domestic markets during the month, following the significant price drop of raw materials such as iron ore and steel billet, while those for seamless pipe increased slightly boosted by short supply of tubing blank caused by pollution curbs. Reporting limited sales volumes, most traders showed little confidence in the market prospect and were cautious about supplementing inventories. On the one hand, the rigid demand from downstream industries remained insufficient, while on the other hand, end users refused to build stockpiles and only purchased according to urgent needs, both leading to a dim market. In the meantime, prices for steel pipe declined slightly in other Asian markets during the month. Insiders foresee a price decrease for steel pipe next month.
