Demand in the local Turkish welded pipe market has been slack this week, with buyers still maintaining a wait-and-see approach due to the 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 downwards during the past week, Turkish pipe producers, who decreased their prices sharply during the previous weeks, have kept their welded pipe offers to the domestic market unchanged this week.
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 $550-600/mt ex-works, remaining stable.
Meanwhile, demand for Turkish welded pipes is also weak in export markets, since foreign buyers also expect a further decline in prices. However, Turkish producers have kept their export prices unchanged following the price declines they announced in previous weeks, and they have preferred to just observe the market this week. Accordingly, Turkish producers’ welded pipe export offers have remained unchanged week on week at $560-570/mt FOB on theoretical weight basis.