Seamless Pipe Market Report May 2012
2012-06-01 18:18:25 【Print】
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China’s central bank lowering the reserve requirement ratio by 0.5 percent points on May 18 failed to activate the finished steel market and prices of seamless pipe showed a downward trend all through this month, coupled with unsatisfying market performance. Considering decreasing prices of steel mills but limited sales volumes, most traders were not confident of the coming market and endeavored to reduce stocks. Meanwhile, steel mills in Linyi, Shandong Province kept moving ex-works prices down, with a total markdown of RMB300-350/t. Insiders deem the price is likely to further go down in the coming month.
