Demand in the local Turkish welded pipe market has been slack this week. With buyers continuing to maintain a wait-and-see approach, there are still expectations in the market for a further decline in prices. Although Turkish producers’ offers for hot rolled coil (HRC) - which is used as feedstock in steel pipe production - have moved sideways during the past week, Turkish pipe producers have decreased their welded pipe offers to the domestic market by $40/mt this week due to the many discounts heard on offers in the HRC market.
Accordingly, Turkish 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 are still in the range of $520-550/mt ex-works, remaining stable week on week.
Meanwhile, Turkish producers’ welded pipe export offers have decreased by $25/mt week on week to $530-550/mt FOB on theoretical weight basis, since demand for Turkish welded pipes is also weak in the export markets.