Demand still slack in Turkish welded pipe market

Demand in the local Turkish welded pipe market has failed to improve during the past week and is still slack. Market sources state that buyers in the local Turkish welded pipe market are still worried amid the ongoing political turmoil in Turkey following the coup attempt in the country on July 15 and due to the significant loss of strength of the Turkish lira against the US dollar. Over the past week, Turkish producers' offers for hot rolled coil (HRC) - which is used as feedstock in steel pipe production - have remained unchanged. As a result, Turkish pipe producers have kept their prices stable in the same period.
 
Accordingly, 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 still in the range of $480-510/mt ex-works.
 
Meanwhile, demand for Turkish welded pipe is still weak in the export markets, while Turkish producers' welded pipe export offers for the same grade have also remained unchanged week on week at $450-490/mt FOB.