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SunSirs: This Week, the Seamless Tube Market Was Mainly Stable with Minor Adjustments (September 11-15)
September 18 2023 14:31:56SunSirs(John)

Price trend

According to data from SunSirs, the price of seamless tubes had slightly increased this week. As of the weekend, the prices of 20# and 108 * 4.5 seamless tubes were quoted at 4,727.5 RMB/ton, an increase of 0.16% compared to the beginning of the week and a year-on-year decrease of 7.67%.

Analysis review

This week's seamless tube factory inventory was decreased by 2,800 tons from last week to 751,200 tons. The operating rate of seamless tube factories nationwide was 57.97%, basically unchanged. The market sentiment was relatively cautious, and the market mentality was average. As entering mid September, the actual trading from the market was still average, and the trading atmosphere in the market was light. The enthusiasm for terminal procurement was poor, the market lacked upward momentum, and the trend of "weak recovery" in demand remained unchanged. Traders mostly sold at stable prices, while factory management focused on digesting inventory. The increment of new downstream projects was limited, and the procurement enthusiasm was not high. Most of them replenished according to demand, and there was a gap in some specification resources. Although the inventory of the pipe factory had decreased, the downstream demand for seamless tubes had not been fully released, and the pattern of strong supply and weak demand had not been improved.

Market outlook

Following the positive signal released by the reserve requirement reduction on September 14th, it helped the economy rebound and increased market liquidity. The implementation of policies had played a boosting role in market confidence, and the demand for seamless tubes was expected to strengthen again. However, as of September 15th, businesses generally reported poor demand. It is expected that the market price of seamless tubes will remain stable with minor adjustments.

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