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SunSirs: This Week, the Seamless Tube Market Was Mainly Stable with Minor Adjustments (January 15-19)
January 22 2024 14:58:33SunSirs(John)

Price trend

According to data from SunSirs, the price of seamless tubes had remained stable and adjusted slightly this week. As of the weekend, the price of seamless tubes for 20# and 108 * 4.5 was quoted at 4,632.5 RMB/ton, an increase of 0.16% from the beginning of the week and a year-on-year decrease of 7.53%.

Analysis review

Upstream: This week, the mainstream prices of steel mill billets remained stable and declined, with some ex factory prices decreasing by 20-30 RMB/ton compared to the previous week.

This week, macro news support gradually loosened. It has now entered December, and the supply and demand fundamentals of seamless tubes were weak. The prices of tube billets were relatively high, and the profits of seamless tube manufacturers were inverted. Manufacturers were unable to break prices to promote shipments, and the acceptance of orders within the factory had been hindered. The inventory pressure on steel traders still existed, and some merchants had slow implementation of winter storage plans. Most downstream construction sites had been suspended, and market demand had significantly decreased. However, there was still a sentiment of buying at low prices in the market.

Market outlook

As the Spring Festival approaching, manufacturers were not optimistic about their expectations for the future, but with the support of cost bottoms, domestic seamless tube prices may mainly consolidate and operate horizontally next week.

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