Price trend

According to SunSirs Exchange data, seamless tube prices remained stable last week. By the end of the week, the price of 20#, 108*4.5 seamless tube was 4,104 RMB/ton, unchanged from the beginning of the week and down 8.65% year-on-year.

Analysis review

The market price of tube billets fell last week. The ex-factory price of 20# hot rolled tube billets was 3,250-3,310 RMB/ton.

As of October 17, the market confidence in East China was insufficient, and downstream customers were not very motivated to stock up on goods. Some merchants were proactively making concessions to promote transactions. As of October 17, tube factories' profits were declining, but there was limited room for production cuts. In addition, the traditional peak season was coming to an end, and it was difficult for demand to increase significantly.

As of October 17, due to a lack of significant positive factors, terminal buyers were cautious about purchasing goods, resulting in unsatisfactory market transactions. Global risk aversion was temporarily rising, while steel prices were not yet in peak season. Inventory pressure was high, and terminal demand was sluggish. This supply-demand imbalance was suppressing seamless tube prices.

Market outlook

In the short term, it may be difficult to see a trend of rising prices, but the decline will also be uneven. It is expected that seamless tubes will mainly operate steadily in the short term.

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