Turkish welded pipe prices increase despite weak demand conditions

Demand in the local Turkish welded pipe market has remained slack this week. Buyers are still cautious about making new welded pipe bookings, limiting their purchases in line with their needs, due to the three-month extension of the ongoing state of emergency in the country and the depreciation of the Turkish lira against the US dollar. However, despite the weak demand conditions Turkish welded pipe producers have increased their prices by an average of $5/mt week on week since domestic prices of hot rolled coil - which is used as feedstock in steel pipe production - have risen by $10/mt week on week.
 
Accordingly, Turkish producers' offers 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 the domestic market have started to range at $495-525/mt ex-works, up $5/mt on average week on week.
 
Meanwhile, demand for Turkish producers' welded pipe in the export markets is also weak, though the uptrend of domestic welded pipe prices has also been reflected in Turkish producers' welded pipe export prices, with prices increasing by $5/mt on average week on week to $495-535/mt FOB.