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Partial market price increases observed with some mills raising offers
Seasonal demand remains weak; downstream resistance to price hikes
Tube billet costs rose significantly, strengthening cost support
Mill raw material inventories declined noticeably
Traders maintain stable quotes, but rising costs may push prices upward
Price Performance
National seamless pipe average: 4,267 RMB/ton (as of July 18)
Up 3 RMB/t WoW with regional variations
Shandong billet prices rose 30 RMB/t; Jiangsu prices stable
34 sampled mills raised prices by 20-50 RMB/t
Profit Analysis
Shandong billet-rolling mills returned to profit at 40 RMB/t (up 40 WoW)
Regional Spotlight (East China)
Shandong mills lifted prices following billet increases
Regional prices stable but transactions muted
Mill production and inventories both declined
Social inventories edged up slightly
Outlook: Firm price trend expected
Inventory Status
Social inventories: 682.5k tons (up 5.2k tons WoW)
Mill inventories: 700.1k tons (down 12.2k tons WoW)
Raw material stocks at mills: 280.2k tons (down 0.4k tons WoW)
Supply Dynamics
Weekly output: 344.8k tons (down 26.3k tons WoW)
Capacity utilization: 74.92% (down 5.71% WoW)
Operating rate: 57.27% (down 0.91% WoW)
Seasonal maintenance reduced production
Market Outlook
Cost pressure grows as billets strengthen further
Traders' low-cost inventories gradually depleting
Downstream acceptance of high prices remains limited
Speculative demand emerges but real consumption lags
Expected price trend: Stable-to-firm nationwide
