China's seamless pipe exports may maintain high in May
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Update time : 2023-05-25 21:35:33
According to the latest customs statistics, China exported 500,800 tons of seamless pipes in April, a month-on-month growth of 0.34% and a year-on-year growth of 98.73%. From January to April, China exported around 2 million tons of seamless pipes, up by 86.84% year on year.
Due to sufficient supply, the demand in the US was weak in March 2023, and the price of domestic imports finally showed a downward trend in March, the first decline since the middle of 2020.
Falling US prices may encourage Asian producers outside the EU and China to transfer their products to the Persian Gulf and other markets. Chinese manufacturers will continue to have significant price advantages over some seamless steel products and may maintain a dominant position in the export markets of Persian Gulf countries. It is expected that demand will remain high in 2023.
Supported by global market uncertainty and higher energy costs and interest rates, China's seamless pipe exports are likely to maintain high in May.
Japanese aluminium buyers recently agreed to pay premium above $170/t for Q3 shipments
