Price trend

According to data from SunSirs, seamless steel tube prices fluctuated within a narrow range last week. As of the end of the week, the price for 20# seamless tubes (108*4.5mm) stood at 4,090 RMB/ton—a decline of 0.1% from the beginning of the week and a year-on-year decrease of 0.12%.

Market analysis

Last week, the market for hot-rolled tube billets remained firm at elevated levels; currently, the ex-works quoted price for 20# hot-rolled tube billets ranges from 3,300 to 3,420 RMB/ton. While the market held firm at high levels, actual transaction volumes were relatively weak. Major steel mills maintained steady pricing, reflecting a strong sentiment to hold firm on prices and reluctance to sell. On the raw materials front, prices for iron ore and coke fluctuated at high levels, providing strong cost support for steelmaking; consequently, steel mills showed no inclination to lower prices, and their in-plant inventories remained at low levels.

Seamless tube mills are operating at high utilization rates, while procurement demand remains steady—characterized primarily by need-based restocking rather than bulk purchasing. Although market transaction volume is light, underlying essential demand provides a resilient floor of support.

Market outlook

Overall, on the cost side, tube billet prices remain firm at elevated levels, and tube mills demonstrate a strong inclination to uphold prices; consequently, the downside potential for spot prices is limited. On the demand side, steady essential demand continues to be released; however, end-users show little appetite for concentrated inventory restocking, with procurement remaining primarily on an "as-needed" basis—a trend insufficient to support any significant upward movement in prices. In the short term, seamless tube prices are expected to fluctuate within a narrow range.

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