Having increased their export quotations over the past week, Turkish welded pipe exporters have decreased their prices by $10/mt on the lower end this week amid weak demand from target markets. 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 export markets is now at $650-720/mt FOB.
While Turkish mills have kept their price offers for the US market firm as prices in the US domestic market are high, some Turkish mills have concluded hollow section deals to this destination at $700/mt FOB over the past week. However, the US Department of Commerce started an investigation in late June amid concerns that US domestic steel mills are raising domestic spot market prices by unfair margins. Depending on the result of the investigation, prices in the US domestic market and Turkish mills’ price offers to the US may be revised downward.
Meanwhile, Turkish mills' welded pipe exports to the EU have almost come to a halt as market players await the result of the European Commission's safeguard duty investigation.