Turkish welded pipe export prices decline further

Wednesday, 03 July 2019 16:03:52 (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 HRC of S235 grade as per EN 10219 have declined by $10/mt to $560-580/mt FOB. Having been slack last week amid buyers’ expectations for lower prices, demand for Turkish steel in the export market is somewhat better this week as some buyers have started to make bookings due to their concerns that prices may increase in the coming period following the recent rises in scrap prices. Meanwhile, other buyers are still staying on the sidelines to see whether scrap prices will continue to indicate increases. According to market sources, in the given period Turkish welded pipe producers’ main export market has been the European region, while some deals also have been concluded to Africa. Currently, Turkish welded pipe producers want to increase their prices due to the rises in import scrap prices and since the downward trend of prices of hot rolled coil (HRC), which is used as raw material in welded pipe production, has ended. At the same time, however, they are concerned that higher prices may not gain acceptance in the target export markets. According to market rumors, Turkish HRC producers also want to increase their prices due to the rises in scrap prices and since iron ore prices have exceeded $120/mt CFR China.

Meanwhile, yesterday, July 2, the European Union terminated the antidumping investigation on hollow sections and welded pipes from Turkey, Macedonia and Russia.

 


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