Although trading activity and demand have been relatively low in recent weeks, Turkish pipe producers have kept their prices unchanged amid stable hot rolled coil (HRC) prices. Meanwhile, market participants believe that prices cannot remain at these levels for long. However, they also believe that any reductions will not improve the market because domestic economic issues, which are becoming more pressing by the day, have significant negative effects on both buyers and sellers.
“We have kept prices steady, but demand is significantly slow, so we do not foresee any price increases or improvements in the market in the upcoming weeks. Also, we are hearing that many small and medium-sized businesses are shutting down or reducing their operations owing to financial challenges and daily increasing costs, which make it highly challenging for both sellers and buyers,” a pipe-maker told SteelOrbis.
Currently, in the local hollow section market prices have remained stable week on week at around $750-800/mt ex-works. Likewise, according to market players, the most recent prices from the bigger mills have remained stable at $700-730/mt ex-works.
Similarly, the offer levels for export are unchanged week on week at $750-800/mt FOB.