SunSirs: The Seamless Tube Market Experienced a Slight Decline This Week (August 19-23)
August 26 2024 13:37:29 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 #, 108 * 4.5 seamless tubes was quoted at 4202.5 RMB/ton, a decrease of 0.24% from the beginning of the week and a year-on-year decrease of 10.39%.
Analysis review
Upstream pipe blanks had been rising for several days this week, and pipe factories had plans to increase their ex factory prices. However, the transaction situation still needs to be observed. In the early stage, the decline in pipe blanks was relatively fast, and market shipments followed slowly. Traders' price reductions were lower than those of pipe factories. As of August 23rd, some pipe factories raised prices, and market quotations were still mainly stable. Some markets still hade downward trends, and low-priced resources were gradually arriving in stock.
The market demand feedback was still relatively average, with obvious off-season characteristics in the market. Merchants often lowered prices to sell in exchange for cash flow, and inventory remained at a normal low level. The driving force for market price increases was insufficient. Terminal demand was weak, and all management factories prioritize shipment, so traders had more bargaining space. However, downstream merchants had a strong bearish mentality and were not actively purchasing. The turnover speed of spot trading by traders was slow. As of August 23rd, some customers had expressed that they had no plans to stock up on regular specifications. The recent transaction performance was average, and downstream inquiries and price comparisons were more common.
Market outlook
It is expected that the price of seamless tubes will mainly be stable.
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