According to market sources, demand in the local Turkish welded pipe market has remained stagnant. Last week, market sources had stated that prices were likely to decrease by $20/mt in the near term. However, with the US dollar gaining strength and reaching record levels against the Turkish lira during the past week, local welded pipe prices have remained unchanged. Besides, it is difficult to plan for the long term due to the ongoing political uncertainty in Turkey and the strong probability of an early election to be held in November this year. Turkish producers are adjusting their sales terms and price levels on a daily basis in line with the US dollar-Turkish lira exchange rate, while circumstances are not expected to improve as long as the volatility of the Turkish lira continues.
Most offers of Turkish ERW pipes and hollow sections with 2-4 mm wall thickness made from hot rolled coil (HRC) of S235 grade as per EN 10219 to the domestic market are at about $455-485/mt ex-works on actual weight basis, remaining unchanged over the past week.
Meanwhile, Turkish producers are offering ERW pipes and hollow sections made from HRC of steel grade S235 JRH as per EN 10219 to foreign customers at around $430-440/mt FOB, remaining stable as compared to the price levels recorded in the previous week.