Xinpengyuan Steel moves down seamless pipe prices
2024-04-04 07:24:02 [Print]
BEIJING (Asian Metal) 4 Apr 24 - Liaocheng Xinpengyuan Intelligent Group (Xinpengyuan Steel), a major seamless pipe producer in Shandong, cut the ex-works prices of seamless pipe by RMB100/t (USD14/t) this week. After the adjustment, the price of 20# Φ377mm*10mm stands at RMB4,200/t (USD580/t) D/P.
"Lots of infrastructure projects remain suspension dragged by capital shortage, and thus the demand for seamless pipe remains soft. We have to decrease prices further to promote sales this week after the markdown of around RMB300/t (USD41/t) in the past one month," disclosed a sales official from Xinpengyuan Steel. In the meantime, the source shows little confidence in the market prospect and forecasts another price decline of seamless pipe in the remainder of April upon the weak demand. The mill operates both seamless pipe production lines regularly at the moment.
Reporting an annual production capacity of 1 million tons, Xinpengyuan Steel produced about 860,000t of seamless pipe in 2023 and 180,000t in the first quarter of 2024. The mill holds around 30,000t in stock for the moment.
Presently, the prevailing price of 20# Φ219mm*6mm stands at RMB4,600/t (USD636/t) D/P in warehouse Shanghai, similar to Tuesday. Traders maintain prices flat supported by the low stocks, while end users strictly purchase from hand to mouth, and the market runs slowly.
"Lots of infrastructure projects remain suspension dragged by capital shortage, and thus the demand for seamless pipe remains soft. We have to decrease prices further to promote sales this week after the markdown of around RMB300/t (USD41/t) in the past one month," disclosed a sales official from Xinpengyuan Steel. In the meantime, the source shows little confidence in the market prospect and forecasts another price decline of seamless pipe in the remainder of April upon the weak demand. The mill operates both seamless pipe production lines regularly at the moment.
Reporting an annual production capacity of 1 million tons, Xinpengyuan Steel produced about 860,000t of seamless pipe in 2023 and 180,000t in the first quarter of 2024. The mill holds around 30,000t in stock for the moment.
Presently, the prevailing price of 20# Φ219mm*6mm stands at RMB4,600/t (USD636/t) D/P in warehouse Shanghai, similar to Tuesday. Traders maintain prices flat supported by the low stocks, while end users strictly purchase from hand to mouth, and the market runs slowly.
