Given the improvements in the scrap and hot rolled coil (HRC) the markets, as well as somewhat greater buyer interest in the pipe market, Turkish pipe producers have increased offers marginally. Despite a small uptick in activity over the last several weeks, market participants report that overall pessimism, particularly in light of domestic economic challenges and impending anticipated rises in expenditures towards the end of the year, remains prevalent. However, most pipe producers do not anticipate a decrease in prices in future weeks since market conditions have managed to stay reasonably constant.
“There are increases, but they are neither consistent nor long-lasting. Even while prices do not appear to be decreasing, overall problems appear to continue to have a significant negative impact on the Turkish market,” a pipe producer commented to SteelOrbis.
Over the past week, prices in the local hollow section market have increased by $10/mt to $730-760/mt ex-works. Nonetheless, according to insiders, a few pipe suppliers are offering much lower than market offers at around $710-720/mt ex-works, to attract more attention from buyers.
Meanwhile, in the export market, according to sources, one of the larger mills sold 3,000 mt of hollow sections to Romania two weeks ago at $675/mt FOB, while current offers from larger mills have been reported at $690/mt FOB. In the meantime, export offers from medium-sized and smaller-sized pipe producers have risen by $10/mt to $740-770/mt FOB.