SunSirs: The Seamless Tube Market Experienced Narrow Fluctuations This Week (April 15-19)
April 23 2024 14:00:29 SunSirs (John)
Price trend
According to data from SunSirs, the price of seamless tubes had slightly decreased this week. As of the weekend, the price of 20#, and 108 * 4.5 seamless tubes was quoted at 4,675 RMB/ton, a decrease of 0.11% from the beginning of the week and a year-on-year decrease of 6.5%.
Analysis review
The weak market situation at the beginning of this week resulted in insufficient upward momentum in the market. Traders continued to offer discounts to stimulate transactions, and the positive news during the week boosted market sentiment, driving the ferrous futures market to quickly rise. At the same time, it stimulated the rise of tube blank prices, driving tube factories and market prices to rise. However, downstream companies had a low acceptance of the rapidly rising prices, and market merchants were relatively optimistic about the short-term market situation. In the later period of the southern rainy season and the northern high temperature, operators held a cautious attitude towards the release of future demand, with multi-dimensional holding of conventional inventory as the main focus. However, the high prices of raw materials such as coke and iron ore had made it difficult for tube billets to fall in the short term. In addition, the price increase of tube billets this week was higher than that of seamless tubes, which had strengthened the support for the cost of seamless tubes.
Market outlook
It is expected that the seamless tube market price will continue to fluctuate narrowly next week.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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