Over the past week, both Turkish welded pipe exporters and their overseas customers have continued to adopt a cautious stance, with buyers hesitating to conclude deals even though they have stepped up their price inquiries. Since the downward movement of hot rolled coil (HRC) prices has reduced welded pipe producers’ production costs, buyers think that welded pipe prices may decline in the coming period. Therefore, they are in no rush to conclude new deals and are waiting for lower prices. However, Turkish welded pipe exporters are unwilling to reduce their prices, as they consider that prices have already reached the bottom. Accordingly, 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 export markets has moved sideways week on week at $630-660/mt FOB.
Amid the negative mood in the market caused by the European Commission’s (EC) safeguard duty investigation and its subsequent antidumping (AD) duty investigation against imported pipe and hollow sections, the EC announced that it might implement a country-specific quota within the scope of the safeguard measure investigation on steel imports. This development has begun to dissipate Turkish welded pipe exporters’ optimistic outlook regarding possible future sales to Europe.