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SunSirs: This Week, the Seamless Tube Market Was Mainly Stable with Minor Adjustments (March 4-8)

March 12 2024 14:59:31     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 20#, 108 * 4.5 seamless tubes was quoted at 4,795 RMB/ton, a decrease of 0.37% from the beginning of the week and a year-on-year decrease of 5.84%.

Analysis review

This week, the mainstream prices of tube billets had slightly declined, with some factory prices decreasing by 40-100 RMB/ton compared to the previous week. The domestic seamless tube factory prices had steadily decreased, with some factory prices dropping by 50 RMB/ton on a weekly basis, and market prices had fluctuated within a narrow range.

With the convening of the Two Sessions, the market was gradually showing positive signals, and domestic steel exports were improving. According to data from the General Administration of Customs, China exported a total of 15.912 million tons of steel from January to February, a year-on-year increase of 32.6%. And on the 7th, the tube factory in Liaocheng area received a production restriction message, and will actively respond to national policies in the near future. The procurement of billets may slow down in the later stage, and the inventory pressure will be relieved after the production pace of the tube factory slows down.

However, it is understood that the inventory levels of tube factories across the country were relatively high, and steel traders held inventory at a medium to high level. The sales pressure of seamless tubes as increasing, and the competition pressure in the industry was also increasing. Although there had been positive news recently, the actual effect was not significant. The official launch of downstream construction sites is mostly in mid to late March, and the actual demand and speculative demand in the downstream were relatively low. The seamless tube market was still in a situation of oversupply.

Market outlook

In the short term, the seamless tube market is lack power for growth, and the price of seamless tubes may continue to maintain a stable trend with minor fluctuations next week.

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