Price trend

According to the statistics of SunSirs, the seamless tube fell slightly this week. As of the weekend, the price of 20#, 108 * 4.5 seamless tubes was 5,155 RMB/ton, down 0.72% from the price of 5,192.5 RMB/ton at the beginning of the week, and down 21.51% year on year.

Analysis review

This week, the national inventory increased slightly, and the operating rate of the seamless tube plant decreased.

Some steel plants in the north had full contract quantity of tube billets this month. At the same time, the north entered the heating season in succession. The steel plants were expected to limit production, and the raw material resources were tight. The price rose, and the spot cost of the steel plant rose. Since going to work on National Day, downstream shipments had not improved significantly. Shandong Tai'an steel market was closed on the evening of the 13th due to the epidemic, and other provincial factories and cities in Shandong were also on alert for the epidemic. The shipments from Linyi and Liaocheng were not affected.

In September, 8,720 projects were started across the country, with a month on month growth of 82.4%: the total investment was about 5,136.53 billion yuan, with a month on month growth of 82.0% and a year-on-year growth of 30.2%

Crude oil prices rose sharply this week. The Federal Reserve announced that interest rates would still be raised in November and December. In addition to the national epidemic, raw material prices rose, making it more difficult for steel mills to support costs. However, the downstream demand did not improve and did not meet expectations. The cold wave in Northeast China and Inner Mongolia came ahead of schedule. The construction progress of various projects was slow. The demand for seamless tubes did not improve significantly, and the market was bearish.

Market outlook

It is estimated that the market price of seamless tube is still weak.

If you have any questions, please fee l free to contact SunSirs with support@sunsirs.com