Price trend
According to data from SunSirs, the price of seamless tubes had slightly decreased this week. As of the weekend, the price of seamless tube 20 # and 108 * 4.5 was quoted at 4,685 RMB/ton, a decrease of 0.21% compared to the beginning of the week and a year-on-year decrease of 9.69%.
Analysis review
The price of seamless tubes had weakened synchronously after the holiday. After October, most downstream projects were in the final stage, with some regions experiencing slight increases in transactions. However, overall demand was not stable, and steel raw material prices were in a stable stage. With supply and demand intertwined, it was difficult to have major market changes. Traders' quotations were relatively stable, and the market had slightly declined.
Market outlook
It is expected that seamless tubes will remain weak and stable in the short term.
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