According to market sources, despite the lack of improvement in demand in the local Turkish welded
pipe market, Turkish producers have revised their prices downwards with the Turkish lira recovering slightly to TRY 2.91 to the US dollar, from the earlier level of TRY 3.0. It is difficult to plan for the medium term due to the ongoing political uncertainty in
Turkey. Market sources state that current sentiment in the market is not expected to improve until a new government is formed in
Turkey after the elections to be held on November 1. Turkish producers are expected to continue adjusting their price levels on the coming period in line with the US dollar-Turkish lira exchange rate, while they still prefer their sales terms to be non-optional. Meanwhile, Turkish producers have been complaining that demand for Turkish welded
pipe in the export markets has remained slack, which has forced them to lower their export offers.
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 $440-480/mt ex-works on actual weight basis, declining by $10/mt on average 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 $425-435/mt FOB, declining by $5/mt as compared to the price levels recorded in the previous week.