Summary: Price of seamless steel pipe down recently
The price for seamless steel pipe keeps decreasing in China for the moment because of the downward price trend of raw material as well as traders’ pessimistic attitudes. Meanwhile, the market performance remains unsatisfactory. Insiders foresee another price decline in following two or three days. A trader in Guangzhou offers RMB3,200t USD497t for 20# Φ38mm*3mm GBT8163 from steel mills in Shandong Province, down by RMB50t USD8t over last trading day. The source states that the seamless pipe price has kept decreasing in recent two months, with a total markdown of around RMB200t USD32t.