SunSirs: The Seamless Tube Market Saw a Slight Increase This Week (January 29-February 2)
February 05 2024 12:07:55 SunSirs (John)
Price trend
According to data from SunSirs, the price of seamless tubes had slightly increased this week. As of the weekend, the price of seamless tubes for 20# and 108 * 4.5 was quoted at 4,770 RMB/ton, an increase of 0.1% from the beginning of the week and a year-on-year decrease of 4.84%.
Analysis review
This week, the macro news had loosened slightly, and as the year-end approaching, some manufacturers had already taken a break. The speed of market resource circulation was slow, and the market had gradually entered a closed state. In addition to the recent occurrence of rain and snow in Henan and other areas, the temperature in North China had dropped sharply. In addition, with the approaching Spring Festival, logistics had been gradually closed, and road transportation had been hindered. Although the tube factory did not stop production during the Spring Festival, its production will decrease slightly, and most of the long-term steel mills will start construction gradually on the sixth day of the lunar new year. The supply of seamless tubes in the market had not changed much.
Market outlook
As of February 2nd, the supply and demand pattern was difficult to change, and manufacturers lacked confidence in future market expectations. They were mostly adopting a wait-and-see attitude, and it is expected that domestic seamless tube prices may maintain stable operation before next week's Spring Festival.
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