SunSirs: The Seamless Tube Market Experienced a Slight Decline This Week (December 2-6)
December 09 2024 15:50:03 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#, 108 * 4.5 seamless tubes was quoted at 4,197.5 RMB/ton, a decrease of 0.47% from the beginning of the week and a year-on-year decrease of 9%.
Analysis review
This week, the seamless tube market fell back with the rise of black series futures, but due to the drag of real demand, the market had not risen. The market sentiment hadweakened again this time, partly due to the weakening of raw material support, the continued downturn of coke, the decline in iron ore prices, the weakening of cost support, and the drag on seamless pipe prices. On the other hand, the impact of overseas news, slow global economic growth, and the Fed's resurgence of hawkish rhetoric had led to a rise in the US dollar index, suppressing the price trend of commodities.
Market outlook
As of December 6th, the market was in a traditional off-season for demand, and there was a clear differentiation between iron ore and coke. Recently, the performance of coking coal and coke had been weak, but the December policy window was approaching, and positive macro factors had effectively boosted market sentiment. It is expected that seamless tubes will continue to undergo narrow adjustments in the short term.
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