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SunSirs: This Week, the Seamless Tube Market First Fell and Then Rose (March 18-22)
March 26 2024 14:23:33SunSirs(John)

Price trend

According to data from SunSirs, the price of seamless tubes fell first and then increased this week. As of the weekend, the price of seamless tubes for 20 # and 108 * 4.5 was reported at 4,720 RMB/ton, a decrease of 0.11% from the beginning of the week and a year-on-year decrease of 7.77%.

Analysis review

This week, the prices of raw materials for tube billets had stopped falling and rebounded slightly. The daily pricing for steel mills had increased by 30-50 RMB/ton, and mainstream market prices had risen by 20-50 RMB/ton. As of March 22nd, the direct quotation for 20 # hot-rolled tube billets in the market was 3,720-3,980 RMB/ton. The operating rate of the seamless tube factory was 52.23%, up 1.05% from last week. The inventory of mainstream seamless tube factories was 772,200 tons, a decrease of 24,200 tons from last week and a decrease of 3.04% compared to the previous week.

This week, the futures market began to bottom out and rebound, driving up prices in the steel spot market. However, before the middle of the week, merchants in the seamless tube market were still cautious in shipping. With the continuous fluctuation and rebound of the market in the later period, and the significant improvement in transactions in the seamless tube market, merchant confidence was driven, and some market resources slightly increased.

Market outlook

The pressure on factory and social warehouses was still considerable, so the market mentality was still relatively cautious. It is expected that market merchants will continue to focus on shipping next week, and the price of seamless tubes will mainly remain stable and slightly adjusted in the short term.

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