Regional pipe markets are showing mixed trends, linked to the specific characteristics of pipe products. In August, prices for welded pipes in Turkey, intended for construction purposes, fell by 6% due to a seasonal downturn, whilst quotations for oil and gas OCTG pipes in the US rose by almost 11% by early September — to $2,838/t.
USA
Average prices for OCTG pipes on North America FOB terms rose by just $28 in August — to $2,590/t — but at the start of September they jumped by a further $250 per tonne.
There are several reasons for the rise in prices. Prices for casing pipes are rising steadily against a backdrop of a worsening product shortage. Delivery times for domestic P110 seamless pipes have been pushed back to the fourth quarter of 2026 (up to 90 days or more), whilst demand from the oil and gas sector remains high, and customers are prepared to pay a premium for expedited shipment.
Furthermore, buyers are facing a shortage of round rolled steel (blanks) and are holding back on large import orders until US trade and customs policy becomes clearer, giving priority to domestic supplies.
In turn, trends in the number of active drilling rigs in the US also confirm this trend and point to a rise in investment in drilling. According to Baker Hughes, the number of oil and gas drilling rigs in the US – an early indicator of future production – stood at 588 at the end of August, which is 52 rigs more than in the same period of 2025.
The expected price trends are also positive for the oil and gas sector. The US Energy Information Administration forecasts that this year the price of Brent crude will average $86.81 per barrel (previous forecast: $82 per barrel), and WTI crude $80.88 per barrel ($76 per barrel).
Turkey
According to Kallanish, prices for welded pipes fell by $38 in August to $620/t (Turkey FOB). At the start of last month, prices dropped to $613/t, but by the end of the period they had risen by $7 per tonne. Turkish pipe manufacturers are being forced to raise prices due to rising production costs — hot-rolled steel, which serves as the raw material for welded pipes, rose steadily to $590/t at the end of August, compared with $582/t at the end of July.
Weak demand is dominating the Turkish market. Taking seasonal fluctuations into account, the economic confidence index for Turkey’s construction sector fell by 0.4 points in August compared with the previous month, standing at 83.1. An index reading below 100 indicates that pessimistic sentiment prevails.
The seasonal downturn, cuts to import quotas and increases in protective tariffs in the EU and the UK are significantly dampening buyer activity. According to traders’ estimates, due to low sales volumes, it will take longer than usual to fill the new EU quotas.
Producers are finalising shipments within the EU’s October quota period, with only the Balkan countries (which are not EU members) and Georgia showing limited interest in purchasing. On European markets, demand is shifting towards domestic suppliers.
It should be noted that, at the end of July, prices for welded pipes in Turkey intended for construction purposes rose slightly, whilst quotations for oil and gas OCTG pipes in the US stabilised at $2,563/t.
Courtesy : https://gmk.center/
