SunSirs: The Seamless Tube Market Was Mainly Weak and Stable This Week (September 4-8)
September 11 2023 10:44:04 SunSirs (John)
Price trend
According to data from SunSirs, the price of seamless tubes had slightly decreased this week. As of the weekend, the price of seamless tubes 20# and 108 * 4.5 was quoted at 4,745 RMB/ton, a decrease of 0.16% compared to the beginning of the week and a year-on-year decrease of 8.09%.
Analysis review
Market news was bearish on iron ore, leading to a weakening of futures trading and driving a wait-and-see sentiment in the spot market. As the market weakened, the factory price of tube billets continued to decline, and the market price performance was relatively stable, mainly due to the fact that the increase in steel mills in the early stage was greater than the market increase. Overall, the price of tube billets had basically fallen back to the level of a week ago.
This week, some steel traders expressed their willingness to increase prices under the policy boost, but the recent market trading atmosphere remained cold, indicating that actual demand had not recovered. Therefore, local traders mainly focused on stabilizing prices and accelerating shipments. However, supported by the cost side and increasing expectations for gold September and silver October, the possibility of price decline was relatively low.
Market outlook
It is expected that in the short term, the market price of seamless tubes will mainly stabilize and adjust slightly.
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