Price trend

According to data from SunSirs, seamless tube prices remained weak and stable last week. By the end of the week, the price of 20#, 108*4.5 seamless tube was 4,062 RMB/ton, down 0.44% from the beginning of the week and down 5.64% year-on-year.

Analysis review

Last week, the billet market saw prices remain stagnant, with the ex-factory price of 20# hot rolled billet at 3,240-3,330 RMB/ton. The third round of coking coal price increases had been implemented, and the cost of raw materials such as coking coal remained high, providing some support for billet prices, but this was insufficient to offset the downward pressure from weak demand.

The spot market sentiment was poor, with a lack of confidence in the future. Actual transactions involved significant price concessions, leading to a weak spot price for billet tubes. Amidst the price decline, market activity had worsened, with demand primarily driven by immediate needs. Downstream speculative demand decreased, resulting in sluggish sales.

Market outlook

In summary, as of November 7, the market was in a lull, with the off-season approaching and weak end-user demand. Production remained relatively high, and traders were primarily focused on actively selling off inventory. Short-term spot prices are under pressure. seamless tube prices are expected to remain weak and stable in the short term.

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.