SunSirs: The Seamless Tube Market Slightly Increased This Week (October 30-November 3)
November 07 2023 15:49:51 SunSirs (John)
Price trend
According to data from SunSirs, the price of seamless tubes slightly increased this week. As of the weekend, the prices of 20# and 108 * 4.5 seamless tubes were reported at 4,605 RMB/ton, an increase of 0.6% from the beginning of the week and a year-on-year decrease of 7.02%.
Analysis review
Upstream: The factory prices of some tube billets in steel mills continueD to rise slightly, while the market prices of mainstream tube billets continueD to rise slightly, with a year-on-year increase of 40-50 yuan per week. As of November 3, the market price of 20# hot rolled tube billets was reported at 3,910-4,030 RMB/ton. The factory price of seamless tubes in China was steadily increasing, with some factory prices increasing by 10-100 RMB/ton.
Macro positive news had boosted the overall market sentiment, with seamless tube factory inventory decreasing compared to last week. The market's mentality of buying up rather than falling had slightly emerged. The northern region had gradually entered the heating season, and tube factories had increased their discount efforts to catch up with the annual target progress. However, under the constraints of weak demand, steel traders still had a cautious attitude.
Market outlook
The game between policy and demand had been strengthened, and under the effect of cost support, it is expected that the domestic seamless tube market prices will remain stable and tend to be stronger next week.
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