Due to low demand and lower scrap prices, Turkish welded pipe prices have decreased over the past week. Despite the lower prices, demand has remained sluggish in the market because buyers believe prices have not hit bottom yet. Prices for Turkish prices have decreased by $20/mt to $1,000-1,030/mt ex-works for local buyers and to $1,020-1,040/mt FOB for export destinations over the past week.
"Nobody has stock problems at the moment and buyers want to buy at lower prices. In the current market outlook, we do not expect to see any recovery in demand at least before the beginning of September, " a trader 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.