Chinese seamless pipe price to decline further in Q3 with the absence of positive news
2013-05-28 18:07:58 【Print】
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The price of seamless pipe kept going down since January of the current year due to the soft demand from downstream industries, with a markdown of RMB50-100/t. Besides, as the side-effect of the RMB4 trillion investment appeared in succession, the new leadership is unlikely to issue another stimulant polices within this year, thus it needs more time for the dim steel industry to recover by itself. In addition, it is the traditional high temperature and rainy season in July-August and the demand is hard to release significantly. Consequently, insiders deem the price is likely to keep the downward trend in Q3.
