Turkey’s local welded pipe prices have decreased by $10-20/mt since last week, while demand has remained at moderate levels. Buyers have exerted pressure on prices and fluctuations in the exchange rate have contributed to the negative outlook in the market. "After the decrease in scrap prices, buyers have started to exert pressure on welded pipe prices. Also, the losses incurred by the Turkish lira have created negative sentiment in the market. Prices have decreased during negotiations, but we did not see a satisfactory decline in hot rolled coil (HRC) prices," a producer told SteelOrbis. Prices are now at $570-590/mt ex-works in the local market for welded pipes.
On the export side, demand is also at moderate levels and prices have declined by $10/mt to $550-570/mt FOB. "The downtrend in scrap prices also affected foreign buyers negatively. Also, many market players believe that steel prices will decrease after the Chinese holiday. In these circumstances, buyers are cautious and are exerting pressure on prices," one exporter told SteelOrbis.
** 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.