This week, in Turkey prices of hot rolled coil (HRC), which is used as raw material in welded pipe production, have switched to an upward trend since the US reduced the 50 percent duty on Turkish steel imports to 25 percent as of May 17 and also due to the increases seen in import scrap prices in recent transactions. Having postponed their welded pipe bookings for a long time due to their expectations that prices would decrease, buyers in the global welded pipe market have started to conclude deals following the rises in HRC prices. Despite the rises in raw material prices, Turkish producers’ offer range for ERW pipes and hollow sections with 2-4 mm wall thickness made from HRC of S235 grade as per EN 10219 has remained stable at $580-600/mt FOB. However, a gradual uptrend is expected for Turkish welded pipe prices in the short term due to rising demand and increasing raw material prices. Meanwhile, for high-volume bookings Turkish welded pipe producers are willing to accept buyers’ firm bids below $580/mt FOB which is the lower end of the current price range, according to market sources. Meanwhile, since little time is left before the new quota period in Europe will start in July, European buyers have started to conclude welded pipe bookings from Turkey, with Turkish exporters receiving orders for welded pipe and hollow sections which will be loaded beginning from June, according to market sources.