SunSirs: The Seamless Tube Market Was Narrowly Adjusted This Week (June 17-21)

https://www.chemnet.com   Jun 24,2024 SunSirs

Price trend

According to data from SunSirs, the price of seamless tubes had slightly increased this week. As of the weekend, the price of seamless tubes for 20 # and 108 * 4.5 was reported at 4,597.5 RMB/ton, an increase of 0.16% from the beginning of the week and a year-on-year decrease of 0.49%.

Analysis review

This week, the prices of steel mill billets fluctuated. As June 21st, the factory quotation for 20# hot-rolled tube billets was 3,710-4,180 RMB/ton.

Most tube factories had high inventory of billets, and the prices of billets continued to decline, intensifying their wait-and-see sentiment. On June 21st, mainstream tube manufacturers had maintained stable quotes, but the futures market had driven the price of tube blanks down. The demand side believed that there was still room for a downward trend in the current seamless tube price, with more inquiries and less purchases. The macro positive expectation was not fulfilled on Monday, and the financial market was operating weakly due to fluctuations. The market was in a period of narrow volatility, and traders mainly offered stable prices, increasing bargaining space.

Market outlook

As of June 21st, we were in the traditional off-season, demand continued to decline, and traders were mostly following the adjustment of management factories. Overall, it is expected that the price of seamless tubes in the market will remain stable but slightly weaker.

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

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