Have seamless pipe prices in Germany already hit the bottom?

Domestic prices for seamless pipes in Germany have remained stable amid unchanged demand. Import prices of Chinese material have decreased by a maximum of €20/mt ($27/mt) over the past month, while offers of Romanian pipes have increased by a maximum of €20/mt ($27/mt) over the same period. Market players believe that seamless pipe prices in Germany are at bottom levels and producers are unlikely to allow any decreases in the coming period. At the same time, demand for German seamless pipes from both local and foreign customers is not sufficient to support price growth in the near future.
 
German 2"-6" seamless pipes of grade S355 made to EN 10210 are being offered to local buyers at around €920-940/mt ($1,260-1,288/mt) delivered.
 
Export quotations of German 2"-4" seamless pipes of grade B as per ASTM A106 are in the range of €930-960/mt ($1,274-1,315/mt) FCA on theoretical weight basis.
 
Prices for Chinese seamless pipes, 2"-6" grade B made to ASTM A106/API 5L, are at about €560-600/mt ($767-822/mt) CFR Germany, exclusive of antidumping duties.
 
Offers of Ukrainian 2"-6" seamless pipes made to EN 10210 of steel grade S235 are in the range of €680-700/mt ($932-959/mt) CPT, exclusive of antidumping duties
 
Romanian 4"-6" seamless pipes made to ASTM A106 of steel grade B are being offered to the German market at about €970-1,000/mt ($1,329-1,370/mt) CPT.
 
Prices for Italian seamless pipes of 2"-6" grade B made to ASTM A106 are at about €1,000-1,060/mt ($1,370-1,452/mt) CPT.
 
€1 = $1.37