Turkish mills have found themselves unable to keep their welded pipe offer prices stable, taking into account low demand as a result of the spread of the Covid-19 virus and generally pessimistic expectations. In addition, hot rolled coil prices in Turkey have declined significantly, partly due to the sharp fall in the import scrap segment. As a result, Turkish mills have decreased their official welded pipe prices by $10/mt over the past week, although additional sizeable discounts are reportedly available for serious buyers.
Official domestic offers for hollow sections have been settled at $515-530/mt ex-works, but due to weak demand as low as $505/mt ex-works and even below is considered achievable by buyers. However, stocks are sufficient at the moment and so trade has been slow.
On the export side, prices are at $505-515/mt FOB and also discounts are possible for real buyers. But demand is really sluggish now and mills are trying to stay flexible. Customers strongly believe that discounts to $500/mt FOB and below are possible.
** 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.