SunSirs: Seamless Tube Market Rose Slightly This Week (December12-16)
December 20 2022 14:41:57 SunSirs (John)
Price trend
According to the statistics of SunSirs, seamless tubes rose slightly this week. By the end of the weekend, the price of 20 #, 108 * 4.5 seamless tubes had been 4,897.5 RMB/ton, up 0.1% from the beginning of the week and down 16.64% year on year.
Analysis review
This week, China's inventory decreased by 33,000 tons to 692,700 tons. The operating rate of national seamless tube plants was 51.5%, with a decrease of 0.4% on a weekly basis.
This week, the base point of interest rate increase by the Federal Reserve was within expectations, and domestic news of expanding domestic demand was released again. Upstream coke started four rounds of increase, which led to a sharp rise in the prices of square billets and tube billets. Seamless tubes began to continue to rise due to rising costs. Demand, stimulated by rising prices, had warmed up in a small range. However, due to public health events, both the production side and the demand side were affected. At the same time, the temperature across the country is dropping, and the demand is still decreasing when the construction conditions do not allow it. However, considering that the current raw material price remains high and some products of the steel plant are still in deficit, the steel plant has a strong desire to maintain the price of billets. With the average cost of purchasing billets gradually rising, the price of seamless tubes has limited falling space.
Market outlook
Under the game of insufficient demand and rising cost, it is expected that the price of domestic seamless tube market will fluctuate in a narrow range next week.
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