Price trend
According to the statistics of SunSirs, the price of seamless tubes rose first and then fell in October. At the beginning of the month, 20 #, 108 * 4.5 seamless tubes were quoted at 5,107.5 RMB/ton, and at the end of the month, it dropped to 5,065 RMB/ton, down 0.83%, and down 22.52% year on year.
Analysis review
On the upstream side, the price of raw tube blank fell. On the 31st, the average price was about 4,050 RMB/ton, down 170 RMB/ton, or 4.2%.
In terms of demand, this month, public health incidents occurred repeatedly across the country, the shipment situation was poor, the downstream demand continued to be weak, and the pipe plants lacked confidence in production, so they were overhauled one after another. In addition, the downstream demand continued to be weak, and the cost of the pipe plant in the autumn and winter was higher. As of the 31st, the pipe factory maintained a weekly output mainly, with a low demand for pipe blanks.
Imports: In September, China's exports of seamless tubes reached 565,400 tons, up 11.78% month on month and 124.99% year on year; From January to September, the accumulated export of seamless tubes was 3.4833 million tons, up 57.39% year on year.
In October, the operating rate and inventory of Shandong seamless tubes rose. By the end of the month, the total social inventory of Shandong Seamless tube had reached 450,700 tons, an increase of 49,600 tons over the beginning of the month.
Market outlook
To sum up, in October, the price of seamless tube was weak due to poor demand. Near the end of the month, the epidemic situation around the country is complex and severe. Traders mainly reduce prices for shipment. The overall transaction atmosphere in the downstream is general. The northern part has entered winter one after another. The project construction time is limited. It is expected that the seamless tube market price will still be dominated by weak operation in November.
If you have any questions, please fee l free to contact SunSirs with support@sunsirs.com