Welded pipe prices in Turkey drop by $20/mt

Friday, 29 January 2021 16:08:53 (GMT+3)   |   Istanbul
       

Turkey-based welded pipe producers have been forced to decrease their prices by $20/mt over the past week, under pressure from weakening scrap and hot rolled coil (HRC) prices in the market.

In the local market, offers for pipe are at $800-830/mt ex-works for February-March production. Moreover, real buyers may consider additional $20/mt discounts during negotiations. Most customers are cautious and expect lower pipe prices due to the decreases which have been seen in Turkish HRC and scrap prices. On the other hand, producers do not want to take quick decisions on offers, preferring to see if the downward trend in prices will last or not. "After the winter period, we expect to see better demand like in previous years and we think we should not hurry to make drastic changes in our prices like buyers want. First, we have to see HRC prices and as always we should check our raw material costs and then we will make price changes. Buyers have also slowed down their purchases to see the market conditions," a producer told SteelOrbis. In addition, mills comment that there is great uncertainty due to the Covid-19-related restrictions globally. Also, some clarity in terms of trade and prices may be seen after the holiday in China.

On the export side, despite the price inquiries last week, demand has failed to recover because of the fear of further lockdowns due to the mutations of the coronavirus. Prices have declined by $20/mt on the upper end to $790-810/mt FOB.

** 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.


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