Since ArcelorMittal’s second price hike in the current year announced in the third week of February, European buyers have continued to adopt a cautious stance towards higher hot rolled coil (HRC) prices and demand for HRC in the European market has remained week. Meanwhile, European welded pipe producers have reflected the rises in prices of HRC, which is used as raw material in welded pipe production, in their domestic prices, raising their prices by $5/mt over the past week. It is expected that welded pipe prices may increase by a further $5/mt in the coming days if the upward movement of HRC prices continues, according to market sources.
A Bulgarian steel producer’s offers for ERW pipes as per EN 10219 for its domestic market have moved up slightly by €5/mt week on week to €575-585/mt ($650-661/mt) ex-works. The Bulgarian welded pipe producer’s European market quotations to Germany are at €625-655/meter ($706-740/meter) CPT, to Hungary are at €605-615/meter ($684-695/meter) CPT, to Austria are at €615-625/meter ($695-706/meter) CPT, and to Belgium and the Netherlands are at €645-660/meter ($729-746/meter) CPT, while its offers to the Czech Republic, Poland, Croatia and Slovakia are standing at €615-635/mt ($695-718/mt) CPT, and its offers to Slovenia are at €615-625/mt ($695-706/mt) CPT.
€1 = $1.13