China's welded pipe suppliers unable to raise prices so far

摘要

Chinese welded pipe suppliers are striving to achieve the $5-10/t price rise announced a fortnight ago. However, stabilization of feedstock and iron ore prices, as well as continued oversupply, are preventing prices from strengthening. Besides, the suppliers are being pressed by low activity of final customers: in July the Purchasing Managers Index (PMI) dropped to 47.7 from 48.2 in June.