Having been recorded at $600-620/mt ex-works last week, Turkish producers’ offer range for 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 their domestic markets has come under pressure this week since demand for domestic welded pipe in Turkey has almost come to a halt. Although HRC prices in Turkey have remained unchanged week on week, the upper end of domestic welded pipe price offers has vanished due to the weakness of demand. The list price of $620/mt still continues to be heard, but without gaining any acceptance.According to market sources, Turkish welded pipe producers may consider a price of $590/mt ex-works for customers who are willing to book large volumes, though for now their offers are mostly at $600-615/mt ex-works.
Buyers in the local Turkish welded pipe market are cautious about making new bookigs due to the political uncertainty in country as the results of the March 31 local elections have not yet been finalized and since the depreciation of the Turkish lira against the US dollar has gained momentum this week. As a result, demand for domestic welded pipe in Turkey, which was already slack, has almost ground to a halt.