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SunSirs: The Seamless Tube Market Saw a Narrow Increase This Week (January 1-5)
January 08 2024 11:05:29SunSirs(John)

Price trend

According to data from SunSirs, the price of seamless tubes had risen narrowly this week. As of the weekend, , the price of 20#, 108 * 4.5 seamless tubes was 4,605 RMB/ton, an increase of 0.05% from the beginning of the week and a year-on-year decrease of 20.71%.

Analysis review

Upstream: The price of rolled tube billets had once again risen to above 4,050 RMB/ton, and some steel mills had even quoted 4,120 RMB/ton for orders, while the price of continuous casting billets had increased by 20-30 RMB/ton this week.

The environmental control measures in the northern region had been gradually lifted, ensuring smooth production and import and export of goods. The raw materials had gradually arrived at the warehouse, and the inventory of seamless tube billets in the factory had increased by 5%, mostly due to normal replenishment, while there was a risk of further cost escalation. Downstream demand remained weak. However, the Chinese New Year will be in February, and the management factory mainly focused on production tasks in January. Therefore, after the production restriction ended, the management factory quickly resumed production to over 50%. Most of them had a positive attitude towards the post Spring Festival period.

Market outlook

Given the strong support of costs and the fact that merchants are not overly pessimistic, it is expected that the price of seamless tubes will continue to fluctuate to be stronger next week.

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