China’s stainless steel pipe exports expected to rise on strong demand from Mid-East
It’s forecasted that China’s exports of stainless steel pipes might rise this year, driven by strong demand from petroleum industry in Middle East.
The rapid development of the downstream market in Middle East is expected to boost the local steel pipe industry in 2012. However, the demand for oil pipes may remain flat as the construction for oil industries had reached the peak in the past years.
According to statistics, the consumption of oil pipes totaled 772,182 tons in the Gulf Cooperation Council (GCC) region in 2007; however, the figures dropped to 335,407 tons in 2009.
Nevertheless, it has been seen that the demand for pipeline products would rise this year in GCC region, driven by downstream users’ active investments.
News Date 20 Apr 2012 11:11:10 reported by Ruth Wang