Price trend

According to statistics from SunSirs, seamless tubes fell slightly this week. As of the weekend, the price of 20#, 108*4.5 seamless tube was reported at 5,287.5 RMB/ton, down 0.52% from 5,315 RMB/ton at the beginning of the week and down 15.06% year-on-year.

Analysis review

At the beginning of this week, the billet price rose slightly. Affected by the rising cost, the ex-factory price of some seamless tube factories rose slightly. The price adjustment of individual seamless tube factories was slow in the early stage, and continued to fall by 50-150 RMB/ton this week. With the weak adjustment of billet prices, market confidence was relatively low.

Affected by the resurgence of the epidemic in many places, the continuous high temperature and rainy season and some external factors, the operating rate of downstream operations remained normal. Due to the rapid rise in steel prices in the early stage, some of the demand was released. This week, the overall seamless tube transaction remained at an average level, and the market merchants maintained a stable attitude towards the market outlook. The mentality of traders was generally bearish, the shipments of tube factories were relatively general, and the decline of in-plant inventories slowed down.

Market outlook

It is expected that the ex-factory price of the seamless tube in the short term may consolidate.

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