SunSirs: The Seamless Tube Market Slightly Declined This Week (May 22-26)
May 29 2023 14:53:15 SunSirs (John)
Price trend
According to data from SunSirs, seamless tubes saw a slight decline this week. As of the weekend, the price of 20#, 108*4.5 seamless tubes was 4,590 RMB/ton, a decrease of 1.61% compared to the beginning of the week and a year-on-year decrease of 25.27%.
Analysis review
This week's national inventory of 823,500 tons decreased by 40,000 tons compared to last week. The operating rate of seamless tube factories nationwide was 57.44%, an increase of 1.44% compared to last week.
It is difficult for the real estate to recover. Although there were reports of steel mills reducing production, the actual implementation still needs time to verify. The rise of ferrous metal series futures was weak, and prices were still continuing to bottom out. It is difficult for seamless tube demand to improve. Tube factories and traders were mainly reducing inventory and shipping. Due to the impact of the rainy season, overall demand had entered a "low season", and seamless tube lacked strong support.
Market outlook
It is expected that the price of seamless tube market will still be weak in the near future.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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