Prices for Turkish welded pipes stabilized over the same period

Regional pipe markets are showing mixed trends due to the specific nature of pipe products. By the end of April, prices for welded pipes in Turkey intended for construction purposes had practically stabilized, while quotations for oil and gas OCTG pipes in the U.S. rose by $220 to $2,274/ton.

United States

The average price of OCTG pipes on North America FOB terms in April finally responded to rising oil prices and increased by $220 to $2,274/ton. For over a month since the start of the conflict in Iran, the market had adopted a wait-and-see stance amid rising oil prices, which were viewed as a temporary phenomenon.

In April 2026, the WTI oil market was extremely volatile: prices initially surged above $110 per barrel, then plummeted below $90, and by the end of the month had rebounded to $105–108. The main drivers were geopolitical risks surrounding the Middle East and the situation in the Strait of Hormuz. According to data from the Cushing WTI spot market, the average price in April was approximately $100.3 per barrel, compared to $91.4 in March—an increase of about 9–10%.

Against this backdrop, a fairly optimistic mood prevails among manufacturers and suppliers, as until recently, plants and service centers had excess pipe inventories, which are now becoming increasingly in demand.

At the same time, the dynamics of active drilling rigs in the U.S. do not yet reflect growth in drilling investment. According to Baker Hughes, the number of oil and gas drilling rigs in the U.S.—an early indicator of future production—stood at 547 units as of the end of April, an increase of four over the month. The total number of drilling rigs in the country is 37 fewer than during the same period last year. This is likely due to the fact that there are a significant number of drilled but uncompleted wells in the U.S. market, which can be quickly brought online under favorable market conditions.

Imports are no longer a significant problem for U.S. producers. However, comparative figures do not favor the U.S. Imports of OCTG pipes into the U.S. rose by 24% month-over-month in February, reaching 116,000 tons. South Korea became the largest exporter during this period, with 54,000 tons (for comparison: 31,500 tons in January). In the same month of February, OCTG pipe exports from the U.S. fell by 13.2% month-over-month to 12,000 tons. The largest volume of OCTG products in February was shipped by the U.S. to Canada—8,000 tons (in January—9,200 tons). Notably, Canada imposed anti-dumping duties on casing pipes for general-purpose pipelines from the U.S. (Tenaris) and a number of other countries.

Turkey

According to Kallanish, prices for welded pipes essentially stabilized in April and rose by $3 to $658/t (Turkey FOB) following a sharp increase of $60 in March. This was due to a weakening of demand last month after its rapid growth in March. Buyers actively resisted the price hikes, forcing some producers to lower prices to $640/t FOB.

At the same time, there are certain grounds for further growth in prices for welded pipes (although the current level of demand does not support this). In particular, average hot-rolled coil (HRC) prices on Turkey FOB terms rose by $23 in April to $630/t.

As a reminder, by the end of March, prices for welded pipes in Turkey, intended primarily for construction needs, rose by $60/t – to $655/t, while quotations for oil and gas OCTG pipes in the U.S. remained stable.