SunSirs: The Seamless Tube Market Had Been Slightly Lowered This Week (March 11-15)
March 18 2024 15:24:57 SunSirs (John)
Price trend
According to data from SunSirs, the price of seamless tubes has slightly decreased this week. As of the weekend, the price of seamless tubes for 20# and 108 * 4.5 was quoted at 4,755 RMB/ton, a decrease of 0.83% from the beginning of the week and a year-on-year decrease of 7.63%.
Analysis review
This week, the prices of raw material billets continued to decline significantly. The factory price of seamless tubes in China had also slightly decreased by 50-130 RMB/ton. The operating rate of the seamless tube factory was 51.18%, a decrease of 1.16% from last week. The inventory of seamless tube factory was 796,400 tons, an increase of 25,100 tons from last week and a month on month increase of 3.25%.
There had been frequent reports of steel mills reducing production this week. The overall insufficient demand in the steel market had led to weak confidence among merchants. In the seamless tube market, merchants had reduced their replenishment frequency, resulting in poor shipments from most tube factories. The inventory pressure on tube factories was not small, but fortunately, the cost side haf rapidly declined this week, which has to some extent eased the losses of tube factories. However, as the futures market continues to hit new lows.
Market outlook
With the decrease in raw material tube blank prices, the phenomenon of low price dumping in the market had increased, and the market was still in the process of bottoming out. It is not easy to stop the price decline of seamless tubes in the short term.
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