During the past week, Turkish producers’ offer range for ERW pipes and hollow sections with 2-4 mm wall thickness made from hot rolled coil (HRC) of S235 grade as per EN 10219 to their domestic market has remained unchanged at $620-650/mt ex-works, due to the weakness of demand.
In the given period, the upward movement of prices of domestic hot rolled coil (HRC) - used as raw material in welded pipe production - has ended and buyers have been exerting pressure on HRC prices, considering the current price levels to be on the high side. Turkish welded pipe buyers have mostly adopted a wait-and-see stance due to the ongoing negative economic situation in the country and due to the approach of the local elections to be held in late March, while they are also cautious about making new bookings due to their expectation that any possible decline in domestic HRC prices may be reflected in welded pipe prices.
According to market sources, in the short term buyers in the local Turkish welded pipe market will likely just monitor the HRC markets and continue to postpone their purchases.