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Partial price increases emerged as some mills raised offers, though billet costs retreated after initial gains. Ongoing mill maintenance reduced production, while higher-priced resources reached markets, lifting social inventories. With cost support weakening and arrivals increasing, seamless pipe prices are poised for stable-to-soft adjustments in the coming week.
Price Movements
National average: 4,340 RMB/ton (as of August 1)
Raw materials: Shandong billet: ↓40 RMB/ton WoW
Mill adjustments: Selected mills raised prices 20-60 RMB/ton, and the majority held offers stable
Profit Divergence
Shandong billet-rolling mills: 60 RMB/ton profit (↓30 WoW)
Jiangsu billet-rolling mills: 240 RMB/ton profit (↑10 WoW)
Blast furnace mills: 186 RMB/ton profit (↓21 WoW)
East China Spotlight
Mills nudged prices upward amid mixed billet trends
Traders prioritized stable pricing to clear stocks
Production dipped slightly while mill inventories declined
Social inventories rose on cautious restocking
Sluggish July transactions persisted
Inventory Shifts
Social stocks: 700.9k tons (↑5.5k tons WoW)
Mill inventories: 661.7k tons (↓20.7k tons WoW)
Raw material stocks at mills: 280.2k tons (↓5.8k tons WoW)
Supply Constraints
Weekly output: 331.4k tons (↓13.4k tons WoW)
Capacity utilization: 72.01% (↓2.91% WoW)
Maintenance-driven cuts extended
Downward pressure: Billet retreat weakens cost foundation
Inventory pressure: Traders face slower digestion of high-cost stocks
Demand hesitation: Downstream buyers resist premium pricing
Price trajectory: Nationwide stable-to-soft adjustments
