According to market sources, trading activity for Turkey's welded pipe exports has been lively and buyers have accelerated their bookings over the past week. Meanwhile, Turkish welded pipe quotations to the export markets have decreased slightly in the given period in line with the downward revision of domestic market prices in Turkey subsequent to the declines seen in domestic hot rolled coil (HRC) prices. However, Turkish exporters are unwilling to decrease their prices further amid the lively demand seen in the export markets. As a result, 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 have decreased by $20/mt on the upper end and by $10/mt on the lower end over the past week to $680-710/mt FOB.
On the other hand, the sharp depreciation of Turkish lira against the US dollar has continued this week. With President Donald Trump announcing that the US will pull out of the Iran nuclear deal and that it will again implement sanctions against Iran, the cautious mood in the global markets has intensified and the currencies of developing countries have lost value. In these market conditions, the Turkish lira has increased to a record level of 4.37 against the US dollar as of today, May 9. However the volatility of the exchange rate has not much impacted the welded pipe export market and has not dampened the liveliness of trading activity.