Monthly Steel Pipe Market Report Nov 2018
2018-12-06 09:37:21 【Print】
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1. Market Highlights
Prices for steel pipe went down sharply and unexpectedly in major Chinese domestic markets during the month, and those in other Asian markets also dropped obviously. The weak downstream demand was the main reason for the significant price decline. Meanwhile, prices for raw materials such as steel billet and tubing blank dropped by about RMB900/t (USD131/t) during the month, weakening finished steel participants' confidence in the market prospect to a large extent. Not being confident of the market prospect, traders were eager to conclude deals to reduce inventories, while end users were cautious about placing orders seeing the downward price trend. Considering the overall market inventory runs on a low level, insiders think that the price for steel pipe may stop decreasing in December.
Prices for steel pipe went down sharply and unexpectedly in major Chinese domestic markets during the month, and those in other Asian markets also dropped obviously. The weak downstream demand was the main reason for the significant price decline. Meanwhile, prices for raw materials such as steel billet and tubing blank dropped by about RMB900/t (USD131/t) during the month, weakening finished steel participants' confidence in the market prospect to a large extent. Not being confident of the market prospect, traders were eager to conclude deals to reduce inventories, while end users were cautious about placing orders seeing the downward price trend. Considering the overall market inventory runs on a low level, insiders think that the price for steel pipe may stop decreasing in December.
