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 markets has decreased by $25/mt to $600-620/mt ex-works. Market sources state that, Turkish welded pipe mills have revised their prices since the Turkish lira has depreciated further against the US dollar.
It is observed that demand in the local Turkish welded pipe market has not changed in the past week, with purchases still being made only in line with needs. In the meantime, SteelOrbis has been informed that buyers have been concluding purchases on some days depending on the trend of the Turkish lira-US dollar exchange rate. It is noteworthy that some buyers are maintaining their wait-and-see stance due to the approaching local election to be held on Sunday, March 31. Demand for domestic welded pipe in Turkey is not expected to record any rapid recovery after the election, while Turkish buyers are foreseen to wait to gain a clearer picture of the movement of the Turkish lira-US dollar exchange rate before restarting their purchases.