Demand in the local European welded pipe market is still slack due to the approach of the new year, while buyers are more willing to avoid risks due to customs duty, political and economic uncertainties, and ongoing trade wars. Meanwhile, the slackness of finished steel demand in the region and the downward movement of euro zone manufacturing growth to its lowest level since August 2016 in November played a role in buyers’ cautious sentiment.
Following the declines recorded in the previous week, prices in the local European welded pipe market have remained stable over the past week. As a result, a Bulgarian steel producer’s offers for ERW pipes as per EN 10219 are still at €580-585/meter ($661-667/meter) ex-works. The Bulgarian welded pipe producer’s quotations to Germany are at €615-620/meter ($701-707/meter) CPT, to Hungary are at €595-600/meter ($661-667/meter) CPT, to Austria are at €605-610/meter ($690-695/meter) CPT, to Romania are at €585-590/meter ($667-673/meter) CPT, and to Belgium and the Netherlands are at €635-645/meter ($724-735/meter) CPT, while its offers to the Czech Republic, Poland, Croatia and Slovakia are standing at €620-630/mt ($707-718/mt) CPT and its offers to Slovenia are at €625-635/mt ($713-724/mt) CPT.
Additionally, according to the European Commission’s (EC) import quota rates, 63 percent and 85 percent of the quotas for import welded pipe and hollow profiles have been filled, respectively, with the quotas now closer to being used up. Import volumes of welded pipe and hollow profiles in Europe are at close to expected levels as the year-end approaches.
€1 = $1.14