Recovery anticipated in domestic welded pipe bookings in Turkey

Friday, 21 September 2018 16:46:55 (GMT+3)   |   Istanbul
       

Over 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 at $600-630/mt ex-works. It is observed that demand in the local Turkish welded pipe market has been very weak, while purchases have not recovered despite the fall recorded in domestic welded pipe prices last week.

Apprehension amongst market players regarding the exchange rate continues as a result of the depreciation of the Turkish lira against the US dollar recorded after the slight recovery observed following the Turkish Central Bank’s decision to increase interest rates last week. On the other hand, expectation of a fall in the local Turkish hot rolled coil (HRC) market has ended with Turkey setting import quotas for certain steel products. Turkey will collect 25 percent import duty if the quotas are exceeded. The decision of the Turkish Ministry of Trade was published in the official gazette yesterday, September 20. Market sources state that Turkish welded pipe producers may increase their domestic prices based on this development. Having showing very weak demand for domestic welded pipe, demand received from Turkish buyers is expected to increase given the expectations of an increase in welded pipe prices, since their inventory levels are currently low.


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