Destocking continues, steel pipe may surge in Q4
Domestic steel pipe market experienced a bleak Aug and prices dropped down to the bottom violently. Seamless steel pipe dipped 200-300 yuan/tonne in the month and welded pipe down by 200-400 yuan/tonne. Deals are quiet over the same period, incurring rising inventory. Against the dim market, steel pipe output did not show much signs of shrinking