Prices increase in local Turkish welded pipe market

Friday, 01 February 2019 16:18:42 (GMT+3)   |   Istanbul
       

Over the past week, market expectations that prices in the local Turkish steel market will switch to an upward trend have strengthened as Turkish mills have increased their scrap bookings and asa scrap prices have risen to $315/mt CFR. Following a slight rise in domestic hot rolled coil (HRC) prices in Turkey two weeks ago, Turkish welded pipe producers have increased their prices over the past week. Accordingly, 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 increased by $20/mt to $550-590/mt ex-works. This uptrend of domestic welded pipe prices in Turkey is expected to continue in the coming weeks amid the ongoing increases in scrap prices.

This week, Turkish buyers have continued their welded pipe bookings from domestic sources, though demand is still not at desired levels. The main reason for buyers’ cautious behavior is the lack of confidence given the economic situation in Turkey. In January, confidence in Turkey's economy decreased by 4.4 percent month on month, according to the Turkish Statistical Institute. Despite the rises in domestic welded pipe prices in Turkey, demand is not expected to record sharp rises in the short term.


Similar articles

Local Chinese steel pipe prices mostly decline

28 Mar | Tube and Pipe

US OCTG exports up 26.8 percent in January

27 Mar | Steel News

India’s VSTL setting up greenfield steel pipe making unit in Odisha

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

India’s Welspun secures $62 million steel pipe supply contract in Saudi Arabia

26 Mar | Steel News

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

Canada initiates review on line pipe from S. Korea

25 Mar | Steel News

India’s Welspun and Saudi Arabia’s Aramco terminate steel pipe supply contract

25 Mar | Steel News

US and Canadian rig counts both decline week-on-week

22 Mar | Steel News

US structural pipe and tube exports down 41.7 percent in January

22 Mar | Steel News