Price trend
According to data from SunSirs, prices for seamless steel tubes experienced a slight decline last week. As of the end of the week, the price for 20# (108*4.5) seamless tubes stood at 4,080 RMB/ton—down 0.44% from the beginning of the week and down 1.21% year-on-year.
Market Analysis
Last week, prices in the tube billet market experienced a slight decline, with ex-works quotes for 20# hot-rolled tube billets ranging from 3,290 to 3,410 RMB/ton. Mill inventories remain at low levels, and steelmakers currently show no inclination to lower prices; while the purchasing pace among downstream seamless tube manufacturers has slowed, ongoing replenishment driven by essential demand has kept the market in a state of weak equilibrium.
Mainstream quotations for 20# seamless steel tubes remained weak but stable. Due to elevated inventory levels, some small-to-medium-sized merchants were offering slight price concessions of 10-20 RMB per ton on non-standard and niche specifications, while quotations for supplies from major mills remained firm. Overall market inquiry activity was fair; however, end-users were primarily placing sporadic, small-scale orders, and the willingness to engage in bulk restocking remained weak. Consequently, the trading atmosphere was somewhat subdued. Traders were generally prioritizing stable pricing to facilitate shipments and deplete existing inventory, with no immediate intention to implement significant price adjustments. Trading activity for specialized tube products—such as high-pressure boiler tubes—remained moderate.
Market outlook
Overall, the market is characterized by a tug-of-war between cost-side support and sluggish demand; meanwhile, tube manufacturers' inclination to uphold prices is counterbalanced by traders' need to destock. Consequently, the seamless tube market is expected to fluctuate within a narrow range in the short term.
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