en 
Call
+8613406350006
The national average seamless pipe price climbed to 4,283 yuan/ton this week, up 22 yuan/ton week-on-week. Rising billet prices and firming costs pushed mainstream mills to raise ex-factory quotes, though downstream buying enthusiasm remained moderate. Mill maintenance largely concluded: output recovered, mill inventory turned from decline to increase, and social inventory rose. Mill profits improved to 110 yuan/ton (Shandong) and 260 yuan/ton (Jiangsu). Supported by costs yet capped by limited demand release, prices are expected to oscillate toward stability next week.
Seamless Pipe Prices: As of September 4, the 108×4.5mm seamless pipe average across 28 major cities stood at 4,283 yuan/ton, up 22 yuan/ton week-on-week — a second consecutive weekly gain confirming the firming trend.
Raw Materials: Billet prices adjusted upward modestly this week. Shandong billet rose 10 yuan/ton, Jiangsu billet held flat, and the north-south gap narrowed 10 yuan/ton to 90 yuan/ton. Higher raw material prices are feeding through to billets, but the increase remains limited.
Mill Price Adjustments: According to a Mysteel survey of 30 sample mills, most mainstream mills raised prices by 20–100 yuan/ton. For overseas buyers, mills are regaining pricing power — the cost pass-through is now visible in export quotations.
Shandong billet-rolling mill profit reached 110 yuan/ton, up 40 yuan/ton week-on-week; Jiangsu reached 260 yuan/ton, up 50 yuan/ton week-on-week. Profits are in a recovery phase: mills raised ex-factory prices faster than raw material costs this week. Healthier mill margins mean less incentive to discount — further price concessions are unlikely in the near term.
East China seamless pipe prices rose slightly this week. Shandong and Jiangsu billet prices gained 10–50 yuan/ton, and mainstream mill ex-factory prices followed, with some markets ticking up. Supply-side, both output and inventory grew slightly, keeping mill inventory elevated. Demand-side, September weather constrained terminal procurement in some areas, and transactions remained essential-need-driven. East China prices are expected to consolidate next week.
Social Inventory: According to the latest Mysteel survey of 123 distributors, social inventory stood at 718,000 tons, up 4,500 tons week-on-week, as merchants restocked opportunistically after mill price hikes.
Mill Inventory: Mill inventory (30 producers, 101 lines) reached 916,700 tons, up 11,500 tons week-on-week but down 6,500 tons month-on-month; raw material inventory rose to 357,200 tons, up 17,900 tons week-on-week. With maintenance ending and output recovering, mills' cautious buyers slowed outbound shipments, pushing inventory higher again. For buyers, the brief destocking window has closed — inventory pressure is rebuilding at mills.
Output reached 385,500 tons, up 7,800 tons week-on-week; capacity utilization was 77.3%, up 1.57 percentage points; the operating rate held at 68.32%. Maintenance has largely ended, so production is set to return to normalized levels next week, keeping supply pressure visible.
Costs remain firm — billet prices are propped up by iron ore and dual-coal prices, and mills show strong willingness to follow cost increases. Supply pressure is building again as output and mill inventory both turn upward. Demand is recovering slowly with September's arrival, but recent price gains have kept buyers cautious, with purchasing mostly need-based. Netting these factors, prices are expected to oscillate toward stability next week. For overseas buyers, the low-price era has passed: cost support is solid, supply is ample for order fulfillment, and demand recovery in September-October points to firm-to-higher quotes — early order placement remains the prudent strategy.
The national seamless pipe market has shifted from bottom-building to firm stabilization. Prices rose 22 yuan/ton this week to 4,283 yuan/ton, mill margins recovered as ex-factory increases outpaced costs, and September demand is slowly returning. Supply has re-expanded with the end of mill maintenance, and inventories are climbing again. For international buyers, further downside is limited by solid cost support, while recovering demand and rebuilt mill pricing power point to a firm-to-rising trajectory ahead — acting sooner rather than later is advised.
