SunSirs: The Seamless Tube Market Experienced a Slight Decline This Week (September 2-6)
September 10 2024 09:25:48 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 4,180 RMB/ton, a decrease of 1.12% from the beginning of the week and a year-on-year decrease of 12.05%.
Analysis review
The ferrous metal futures of upstream tube blanks had been fluctuating weakly in the past two days, which had a certain impact on the prices of raw materials. Recently, the price of raw material billets had slightly decreased, and seamless tubes had been operating steadily and weakly after the decline in billet prices.
The ferrous metal futures market fluctuated downwards, and the trading atmosphere in the market was relatively quiet. Manufacturers' confidence was significantly dampened, and there were various adjustments to follow the decline to accelerate shipments. Although Gold September arrived, the market had a strong wait-and-see attitude, and there was no significant increase in terminal demand. Downstream enterprises mainly purchased on demand, and the overall performance was lukewarm.
Market outlook
It is expected that the price of seamless tubes will continue to operate weakly and steadily.
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