SunSirs: The Seamless Tube Market Slightly Declined This Week (August 14-18)
August 22 2023 10:39:16 SunSirs (John)
Price trend
According to data from SunSirs, seamless tubes saw a slight decline this week. As of the weekend, the prices of seamless tubes 20# and 108 * 4.5 were quoted at 4,682.5 RMB/ton, a decrease of 0.21% compared to the beginning of the week and a year-on-year decrease of 12.02%.
Analysis review
This week, the national seamless tube factory inventory was increased by 6,100 tons from last week to 754,000 tons. The operating rate of seamless tube factories nationwide was 57.97%, slightly higher than last week.
The price of seamless tubes was mainly fluctuating this week. As of August 18th, the transaction of seamless tubes in the south was slightly better than that in the north, but the expectation of increased steel demand for post disaster reconstruction in the north is gradually increasing, coupled with the central bank's unexpected interest rate reduction, indirectly easing the sentiment of the seamless tube market being negative. The market's expectation of production restriction was gradually weakening, and the tube factory had no willingness to undergo maintenance. Coupled with the relatively lagging seamless tube market, the actual demand needed to be tested by time, so the tube factory's inventory had accumulated slightly.
Market outlook
It is expected that the seamless tube will mainly stable with minor adjustments in the short term.
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