SunSirs: The Seamless Tube Market Slightly Declined This Week (August 7-11)
August 14 2023 10:37:53 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# and 108 * 4.5 seamless tubes was quoted at 4,727.5 RMB/ton, a decrease of 2.73% compared to the beginning of the week and a year-on-year decrease of 11.05%.
Analysis review
This week, the national seamless tube factory inventory was decreased by 7,900 tons from last week to 747,900 tons. The operating rate of seamless tube factories nationwide was 57.8%, which was the same as last week.
The upstream tube blank factory and market quotation had accumulated a decrease of 30-50 RMB/ton. As of August 11, the direct quotation for 20# hot rolled tube blank market was 3,770-3,960 RMB/ton. This week's sustained thunderstorms in the real estate industry had hit market confidence. Although coke started five rounds of price hikes at the beginning of the week, there were still difficulties in landing later, which had hindered the willingness of steel mills to raise prices. On the one hand, the northern region was still in the stage of post disaster recovery, and demand needed to be released. On the other hand, the market was relatively negative, and downstream wait-and-see sentiment was strong, leading to a slowdown in procurement activities.
Market outlook
With the arrival of a new round of rainfall, the seamless tube market may be affected again, with weakened cost support during the period and insufficient market confidence in future demand. It is expected that the seamless tube market price will fluctuate and fall in a narrow range next week.
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