Prices in the local European welded pipe market have remained stable over the past week. But it is observed that European welded pipe producers are under pressure as regards prices against the backdrop of the ongoing downtrend of global hot rolled coil (HRC) quotations. Amid this stronger pressure, European welded pipe mills are expected to reduce their offers further in the short term.
Meanwhile, a Bulgarian steel producer’s offers to Europe for ERW pipes as per EN 10219 are still at €605-635/meter ($690-724/meter) CPT. The Bulgarian welded pipe producer’s quotations to Hungary and Poland are at €610-615/meter ($695-701/meter) CPT, with other offers to the Czech Republic and Austria being at €620-625/meter ($707-713/meter) CPT, while its offers to Germany and Romania are at €630-635/meter ($718-724/meter) CPT and €605-610/meter ($690-695/meter) CPT respectively.
According to the European Commission’s import quota rates, 46 percent and 56 percent of the quotas for import welded pipe and hollow profiles have been filled, respectively. European buyers are expected to gradually slow down their welded pipe imports as quotas get closer to being fully filled. Additionally, welded pipe demand in the European region is expected to soften toward the end of the current year.