Because of higher hot rolled coil (HRC) and scrap prices in Turkey, local welded pipe prices have increased by $40/mt to $650-670/mt ex-works since last week, for January-February production. Demand has remained sufficient in the pipe market and prices are expected to increase further in the coming period. "Scrap prices have increased a lot and we think HRC prices will follow. As always, we have to follow HRC prices because it is our raw material. Current HRC prices are at $600-625/mt ex-works in Turkey and $650/mt for welded pipe is really low, and so we believe prices for welded pipes will increase further soon," another producer told SteelOrbis.
On the export side, prices have also increased by $50/mt to $640-650/mt FOB and demand has remained moderate. "The export markets are strong and we have sold good amounts, especially to the EU. Despite the upcoming holiday season, demand has remained lively, unlike last year," an exporter told SteelOrbis.