SunSirs: This Week, the Seamless Tube Market Remained Stable and Adjusted Slightly (November 20-24)
November 27 2023 14:21:56 SunSirs (John)
Price trend
According to data from SunSirs, the price of seamless tubes fluctuated narrowly this week. As of the weekend of 20#, the price of 108 * 4.5 seamless tubes was quoted at 4,640 RMB/ton, which remained unchanged at% compared to the beginning of the week and decreased by 3.63% year-on-year.
Analysis review
Upstream: The ex factory prices of some tube billets in steel mills first increased and then decreased, increasing by about 20 RMB/ton compared to the beginning of the week. As of November 24th, the market price of 20# hot-rolled tube billets was quoted at 4,020-4,270 RMB/ton.
This week, black series futures had been fluctuating and weakening, and market caution had intensified. The acceptance of orders by regulatory factories was generally weak, and the overall trading atmosphere in the market appeared to be light. Time had entered the traditional off-season, especially in the north, where the off-season effect was particularly prominent. Although the market price of seamless tubes had passively followed the prices of pipe factories, the increase was clearly weak, and some specification resources were in a state of having price but not market. Merchants had a low willingness to replenish inventory, mostly relying on fast in and out, and on-demand operations. In the past two days, the orange warning for heavy pollution weather in Liaocheng City had been lifted, which had no significant impact on the reduction of seamless tube supply. The basic pattern of supply and demand had not changed temporarily.
Market outlook
It is expected that seamless tubes will remain stable with minor adjustments in the short term.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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