Singaporean welded pipe market dim
2015-07-17 08:56:00 [Print]
BEIJING (Asian Metal) 17 Jul 15 - Welded pipe prices show a downward trend in Singapore, without the strong support from downstream demand. Insiders deem that the Singaporean welded pipe market will remain dim in the near future.
A trader in Singapore reveals to Asian Metal that the local price of welded pipe ASTM A53 Φ114.3mm*3.75mm is SGD656/t (USD480/t), falling by SGD14/t (USD10/t) compared with that of last week.
According to him, local market prices have been decreasing intermittently since the end of last month and his current price is USD30/t (SGD41/t) lower than the average price of June. He explains that downstream demand is quite soft and export prices from China have fallen a lot in recent several weeks. Therefore, he has to move down offers to promote sales. With a small sales volume of 100tpd against 300tpd in the high season, he doesn’t believe welded pipe market will recover in Singapore within a short period.
Another trader in Singapore reports to Asian Metal that the local price of welded pipe ASTM A53 Φ114.3mm*3.75mm is SGD663/t (USD485/t), decreasing by SGD14/t (USD10/t) compared with that of last week.
The source imports welded pipe from China. According to him, Chinese suppliers quote USD370/t FOB Tianjin for regular-sized welded pipe at this moment, falling by USD20/t compared with that at the end of July. He also tells Asian Metal that the demand from local buyers is not strong and he has reduced the inventory to avoid risks. Currently, his total stockpile is around 1,000t, while it is over 2,000t in the high season. He believes that Singaporean welded pipe market will remain sluggish in the remaining days of this month.
A trader in Singapore reveals to Asian Metal that the local price of welded pipe ASTM A53 Φ114.3mm*3.75mm is SGD656/t (USD480/t), falling by SGD14/t (USD10/t) compared with that of last week.
According to him, local market prices have been decreasing intermittently since the end of last month and his current price is USD30/t (SGD41/t) lower than the average price of June. He explains that downstream demand is quite soft and export prices from China have fallen a lot in recent several weeks. Therefore, he has to move down offers to promote sales. With a small sales volume of 100tpd against 300tpd in the high season, he doesn’t believe welded pipe market will recover in Singapore within a short period.
Another trader in Singapore reports to Asian Metal that the local price of welded pipe ASTM A53 Φ114.3mm*3.75mm is SGD663/t (USD485/t), decreasing by SGD14/t (USD10/t) compared with that of last week.
The source imports welded pipe from China. According to him, Chinese suppliers quote USD370/t FOB Tianjin for regular-sized welded pipe at this moment, falling by USD20/t compared with that at the end of July. He also tells Asian Metal that the demand from local buyers is not strong and he has reduced the inventory to avoid risks. Currently, his total stockpile is around 1,000t, while it is over 2,000t in the high season. He believes that Singaporean welded pipe market will remain sluggish in the remaining days of this month.
