SunSirs: The Seamless Tube Market Was Mainly Weak and Stable This Week (March 20-24)

Price trend

According to statistics from SunSirs, seamless tubes fell slightly this week. As of the weekend, the price of 20# and 108 * 4.5 seamless tubes was reported at 5,102.5 RMB/ton, down 0.29% from the beginning of the week and down 15.06% year-on-year.

Analysis review

This week's national inventory was 760,100 tons, a decrease of 10,100 tons compared to last week. The operating rate of seamless tube plants nationwide was 63.05%, up from last week.

In terms of raw materials and tube factories, the price of tube blanks fell, and the price of raw materials continued to decline. The quotation of tube factories was temporarily stable, and the effect of destocking was poor. The order of tube factories was average.

On the market side, it was still affected by foreign macro negative information, and domestic panic continued to ferment. In addition, the price of ferrous metal futures continued to decline in the recent days and the performance of seamless tube transactions was flat, which led to a return to cautious market mentality, with strict inventory control and a focus on stable price shipments. And expectations for the future market are generally low.

Market outlook

It is expected that the price of seamless tube will remain weak and stable.

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