SunSirs: The Seamless Tube Market Experienced a Slight Decline This Week (June 10-14)

https://www.chemnet.com   Jun 17,2024 SunSirs

Price trend

According to data from SunSirs, the price of seamless tubes had slightly decreased this week. As of the weekend, the price of seamless tubes for 20 # and 108 * 4.5 was quoted at 4,600 RMB/ton, a decrease of 0.81% from the beginning of the week and a year-on-year decrease of 0.97%.

Analysis review

This week, the steel plant's tube blank quotation fluctuated downward, with a range of 10-80 RMB/ton. The factory quotation for 20 # hot-rolled tube billets was 3,710-4,180 RMB/ton.

Affected by high temperatures in various northern regions, shipments had deviated from May. Some distribution center management factories had planned to lower their ex factory prices by offering discounts on shipments. In addition, they were in a macro news vacuum period and were returning to fundamental trading. Overall steel inventory remained pessimistic, and the market was destocking. For several consecutive days, prices had fallen, steel mills have been weak in raising prices, and market panic had spread. However, the market direction was unclear, and the decline was not significant. It is expected that the price of tube billets will remain stable today. Black futures fluctuated and fell, while seamless tube prices remained weak and stable. It is not easy to raise prices for seamless tubes, and tube factories are hindered in raising prices. Demand and cost support for prices were weak.

Market outlook

In summary, it is expected that the price of seamless tubes will continue to fluctuate to be weaker.

If you have any questions, please feel free to contact SunSirs with?support@SunSirs.com.

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