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SunSirs: The Seamless Tube Market Slightly Increased This Week (November 6-10)
November 13 2023 10:26:05SunSirs(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 seamless tubes 20# and 108 * 4.5 were quoted at 4,590 RMB/ton, an increase of 0.33% compared to the beginning of the week and a year-on-year decrease of 5.02%.

Analysis review

Upstream: The factory prices of some tube billets in steel mills had slightly increased, with a year-on-year increase of 20-80 RMB/ton per week. As of the weekend, the market price of 20# hot rolled tube billets was quoted at 3,880-4,150 RMB/ton. The factory price of seamless tubes in China was steadily increasing, with some factory prices increasing by 30-100 RMB/ton.

As of the weekend, the production of tube billets was still at a loss, and the prices of ore and double coke had shown strong performance, which led to a strong willingness for steel mills to rise. Under the stimulation of rising prices, some markets had shown an improvement in trading enthusiasm, and the pressure on factory inventory had eased. The weather had turned significantly colder this week, with a significant reduction in terminal demand in the northern market, while demand in the southern market remained insufficient.

Market outlook

Overall, it is expected that the factory price of seamless tubes will be consolidated next week.

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