The continuous downtrend in scrap and hot rolled coil (HRC) segments in Turkey has resulted in another $10/mt decline on Turkish mills' welded pipe offers. Currently, the official level is at $520-540/mt ex-works, while $505-510/mt ex-works is considered achievable for sizeable orders. Firm bids from the domestic customers were reported at around $480-500/mt ex-works.
Export offers for October shipments have decreased by around $20/mt over the week to $510-540/mt FOB. “Weak demand from export markets continues. Turkish flat steel producers expect a further decline in scrap prices which can result in lower HRC quotations and additional pressure on the pipe segment too,” a source told SteelOrbis.
**Prices are given for ERW pipes and hollow sections with 2-4 mm wall thickness made from HRC of S235 grade as per EN 10219, on theoretical weight basis.