Demand has declined further in the Turkish welded pipe market, while prices have remained unchanged over the past week. Demand was low in the previous weeks because of the pressure on prices and the negative economic outlook in the country, but has also been affected by the upcoming Sacrifice Feast holiday since the beginning of this week and trade has come to a standstill.
"Buyers continue to put pressure on prices as they still think that price levels have not bottomed out. However, when we check the current levels of HRC prices in the country, we can easily say that it is currently impossible to make further reductions in pipe prices. There is also a stagnation both in the export markets and in the local market due to the summer season. In addition, pressure on HRC prices - which is our raw material - continues to be observed. In this situation, buyers are delaying their purchases by starting the upcoming holiday early," a producer told SteelOrbis.
Turkish welded pipe prices are stable and are still at $1,100-1,130/mt ex-works for local buyers and at $1,120-1,140/mt FOB for export destinations.
** Prices are given for ERW pipes and hollow sections with 2-4 mm wall thickness made from HRC of S235 grade as per EN 10219, on theoretical weight basis.