Over the past week, demand in the local Turkish welded
pipe market has been slack, while buyers are still maintaining a wait-and-see approach due to the expectations in the local Turkish market for a further decline in domestic
pipe prices. During the past week, producers' offers for hot rolled coil (HRC) - which is used as feedstock in steel
pipe production - have remained unchanged but, since HRC quotations in the spot market have softened in the same period, Turkish producers have reduced their welded
pipe offers to their domestic market by $40/mt on the upper end.
Accordingly, 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 in the range of $640-650/mt ex-works.
Meanwhile, Turkish producers' offers for ERW pipes and hollow sections made from HRC of steel grade S235 JRH as per EN 10219 to foreign customers have remained unchanged week on week at $620-650/mt FOB on theoretical weight basis amid weak demand conditions which have led to a halt in negotiations as buyers are currently waiting to see the future trend of the market.