SunSirs: The Seamless Tube Market Was Mainly Weak and Stable This Week (May 15-19)
May 22 2023 10:18:29 SunSirs (John)
Price trend
According to data from SunSirs, seamless tubes saw a slight decline this week. As of the weekend, the price quotation for seamless tubes 20# and 108 * 4.5 was 4,722.5 RMB/ton, a decrease of 0.89% compared to the beginning of the week and a year-on-year decrease of 24.2%.
Analysis review
This week's national inventory was increased by 26,600 tons from last week to 863,500 tons. The operating rate of seamless tube factories nationwide was 55.8%, which was the same as last week
The economic data released this week showed that the data of most downstream industries in China were significantly weaker on a month on month basis, the financial data showed a common performance, overseas uncertainty factors increased, market sentiment was relatively low, the seamless tube factory profits were in a loss state, the supply was slightly weaker, the tube factory orders were general, the tube factory inventory pressure continued to highlight, and traders and downstream steel enterprises were still bearish on the market in the short term.
Market outlook
The seamless tube market lacked confidence in demand and had a mostly bearish mindset. It is expected that the price of seamless tube market will still be weak in the near future.
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