It is observed that domestic hot rolled coil (HRC) prices in Turkey have decreased to $545-565/mt ex-works during the past week, while Turkish welded pipe producers have significantly reduced their offers below the $600/mt ex-works level. 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 domestic market has declined by an average of $25/mt week on week to $590-630/mt ex-works. Market sources state that demand in the local Turkish welded pipe market is at very low levels as buyers have almost stopped their restocking activities.
SteelOrbis has also been informed that cash flow is causing difficulties in the local welded pipe market, while some welded pipe producers are now offering discounts of $30-40/mt for cash payments. However, it is observed that buyers are postponing their domestic welded pipe purchases due to their expectations of a further fall in prices.