Monthly Steel Pipe Market Report Dec 2018
2019-01-08 14:47:54 【Print】
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1. Market Highlights
The domestic steel pipe market continued to run slowly during the month restricted by the weak downstream demand, despite the price rebound in some regions. Meanwhile, prices in other Asian markets went down slightly. After the sharp markdown of about RMB500/t (USD73/t) in November, both producers and traders were eager to raise prices during the month boosted by the news that China and the U.S. reached a consensus on suspension of imposing extra tariffs. However, end users refused to accept higher prices and only purchased according to urgent needs, leading to a slow market. Considering the downstream demand is likely to shrink further in January with the approach of the Spring Festival (5 February), insiders foresee a nationwide price decline for steel pipe in January.
The domestic steel pipe market continued to run slowly during the month restricted by the weak downstream demand, despite the price rebound in some regions. Meanwhile, prices in other Asian markets went down slightly. After the sharp markdown of about RMB500/t (USD73/t) in November, both producers and traders were eager to raise prices during the month boosted by the news that China and the U.S. reached a consensus on suspension of imposing extra tariffs. However, end users refused to accept higher prices and only purchased according to urgent needs, leading to a slow market. Considering the downstream demand is likely to shrink further in January with the approach of the Spring Festival (5 February), insiders foresee a nationwide price decline for steel pipe in January.
