Bearish sentiment gained momentum in global markets amid recent weakness in raw material prices and downtrend in hot rolled coil prices and demand. Ongoing concerns regarding economic situation prevented demand from recovering in the local market, buying activity remained at very low levels. On the other hand, welded pipe purchases are not likely to pick in the coming weeks as the year-end approaches. Both downtrend in the global steel market and lack of demand in the domestic market continued to put pressure on welded pipe producers’ prices.
Over the past 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 market have decreased by $10/mt to $570-610/mt ex-works.