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Seamless steel pipe prices expected to stabilize within narrow range in 2024

10 Jul 2024 15:58 reported by Stanley Wang

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China is anticipating a slight downturn in domestic demand for seamless steel pipes throughout 2024, reflecting recent trends in transaction volumes among sample enterprises. Despite a robust start at the beginning of the year, market demand began to diminish from May onwards, culminating in a year-on-year decrease of 1.31% in average daily trading volume by the end of June, totaling about 13,431 tons.

Statistical surveys indicate that seamless steel pipe output for the first half of 2024 is projected at approximately 13.7 million tons, down by 700,000 tons compared to the previous year. This decline mirrors a broader trend of decreasing domestic consumption and transaction volumes in the Chinese market.

Internationally, while demand for seamless pipes is expected to soften, China's exports remain substantial, despite a slight year-on-year decrease. From January to May 2024, China exported 2.165 million tons of seamless steel pipes, down by 15.51% from the previous year.

Looking ahead, market analysts anticipate continued challenges in supply and demand dynamics within China's seamless pipe industry, influenced by global economic conditions and domestic policy shifts. Despite these pressures, prices are expected to stabilize within a narrow range throughout the year.

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