Quotations for Turkish welded pipes decreased by $3 per ton over the same period. The global pipe market is experiencing multidirectional trends driven by the specifics of different pipe types. According to October results, prices for welded pipes in Turkey intended for construction decreased by $3/t, while quotations for oil and gas pipes (OCTG) in the US rose by 3% m/m — to $3,125/t. High oil prices stimulate investment in drilling and, as a result, contribute to the growth of quotations for oil and gas pipes, writes GMK Center.

USA

The market is dominated by optimistic expectations among American producers and suppliers amid high demand, although the overall sentiment remains cautious due to trade and geopolitical factors. Distributors and service centers prioritize domestically produced products to ensure supply reliability and avoid tariff risks. Average quotations for OCTG pipes on North America FOB terms in October expectedly rose — by 3% m/m, or by $94, to $3,125/t.

The main market trends include:

Sustained demand amid shortage. Domestic consumption outpaces production volumes at US plants, leading to a deficit.

Decline in import activity. Importers sharply limited purchases due to high duties, logistics problems and the risk of sudden changes in US trade policy. Imports in 2026 significantly lag behind the 2025 level.

Protectionism and duties. The US retained existing anti-dumping duties on OCTG imports from five countries (India, South Korea, Turkey, Vietnam, Ukraine) and preliminarily established high dumping margins for Austria (47.21%) and Taiwan (51.19–54.74%).

The dynamics of the number of operating drilling rigs in the US also confirm this trend and indicate growth in drilling investments. According to Baker Hughes, the number of oil and gas drilling rigs in the US, which is an early indicator of future production, stood at 603 at the end of October, which is 57 rigs more than in the same period of 2025. In addition, this is five rigs more than at the end of September.

Suppliers expect the favorable price environment to persist thanks to the stable number of operating drilling rigs and tariff protection, however further price dynamics will depend on the situation after the US elections and the geopolitical situation on the energy market.

Turkey

Official offers are held at $630–650/t (FOB Turkey). However, actual deals are concluded with discounts (for example, 1,500 t to the UK at $635/t). According to Kallanish, prices for welded pipes in Turkey in October decreased by $3, to $633/t (FOB Turkey).

Market participants' sentiment remains cautious and pessimistic. Producers are taking a wait-and-see position due to limited order portfolios, uncertainty around the CBAM mechanism and tough pressure from buyers demanding discounts.

The main market trends in October include:

Falling demand. Key sales markets (the European Union and the United Kingdom) show weak activity. Unlike previous years, purchases for January quotas in October are virtually absent.

Search for alternatives. Exporters are shifting attention to the UK market, non-EU Balkan countries and Georgia.

Trade barriers. The US confirmed preliminary countervailing duties on Turkish large-diameter welded pipes (3.34% for HDM Çelik).

Producers expect a further decrease in hot-rolled coil (HRC) prices following long product prices, which will maintain pressure on finished pipe quotations. In October, domestic HRC prices decreased to $630–645/t (EXW). The reduction in raw material costs is the main factor forcing exporters to make concessions.

Overall, the situation on the Turkish construction market — the main domestic consumer of welded pipes — is far from positive. Taking into account seasonal adjustment, the economic confidence index in Turkey's construction sector, calculated by TUIK, in October rose by 0.4 points compared to the previous month (in September — a decrease of 0.2 points) and stood at 83.3. An index value below 100 indicates the predominance of pessimistic sentiment.

China

The steel pipe market in China has maintained weak dynamics throughout the autumn. On the domestic market, product prices are mostly declining or in a sideways trend. The main pressure factors are low consumer demand and weakening support from raw material prices.

From late October to early November, domestic prices for seamless and other types of steel pipes were in the range from moderate stagnation to a slight decline.

In the export direction, the situation is similar: export quotations from Chinese producers remain mostly stable. Despite persistently weak global demand and increasing competition on foreign markets, mills are in no hurry to lower offer prices, keeping them at the previous level. The key reason for stagnation both on the domestic and foreign markets remains the lack of incentives for demand growth.

The European Parliament committee supported incentives for "green" steel in the automotive industry