Demand has improved slightly over the past week in the Turkish welded pipe market. However, both local and export prices have decreased by $10/mt due to the downturn seen in the hot rolled segment.
At the beginning of the week, local and import HRC prices decreased in Turkey and buyers started to exert pressure on welded pipe offers. Suppliers went as lo'w as $450/mt ex-works during negotiations, but returned to $460-490/mt ex-works in offers after having sold some volumes. “We saw better demand and were able to sell good volumes. Of course, the business is not the same as before Covid-19, but it is satisfying under the current circumstances,” a pipe producer told SteelOrbis.
On the export side, demand has also improved, in particular due to the ‘others’ quota’ opening in the EU. According to sources, some mills have sold pipes at $440-450/mt FOB, but prices have since rebounded to $460-480/mt FOB with some discounts being possible.
** Prices are given for ERW pipes and hollow sections with 2-4 mm wall thickness made from HRC of S235 grade as per EN 10219, on theoretical weight basis.