Low demand and pressure on prices exerted by buyers have caused another decline in Turkish welded pipe prices in Turkey, which have declined by $20/mt to $780-810/mt ex-works for March production since last week. Even $740-750/mt levels were heard in the market for welded pipes since yesterday, February 10, but it has been accepted that these levels were incorrect and unnecessarily low. On the other hand, demand has started to recover slightly. Many believe prices and demand will increase soon, especially after the latest scrap deal, which has been concluded at $410/mt CFR Turkey for HMS I/II 80:20 scrap, having been heard early today. "Demand has been recovering since yesterday and we have also received good news from scrap prices today. Of course, it is a bit early to say anything certain, especially before the Chinese holiday ends, but we expect the price trend will change soon and that prices will see an uptrend. Hot rolled coil producers also have not been in a hurry to give offers for May production and they have wanted to wait. We assume they also want to increase their prices," a producer told SteelOrbis.
On the export side, demand is still low due to Covid-19 restrictions and prices have declined also by $20/mt, to $770-790/mt FOB, since last week.
** 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.