Despite the difficulties facing the economy and the weak demand, prices have risen again this week. Hollow section (HS) traders who were affected by the positive trend in the scrap market, as well as price increases in the retail flats market, chose to raise their prices again to minimize losses while also committing to give discounts to serious consumers.
Furthermore, the demand part is still not desired in both the local and global markets, and current demand is much lower than usual demand owing to seasonal factors.
“The prospects for the HS market is quite gloomy. Even though we are ready to provide discounts, demand is almost non-existent in both the local and international markets,” a trader said to SteelOrbis
Local hollow section prices in Turkey have grown by $20/mt to $750-800/mt ex-works. According to sources, the most recent statement from a bigger mill was $770-800/mt ex-works, compared to statements from some medium-sized producers somewhere around $750-800/mt ex-works. Meanwhile, export offer levels, which range from $770-850/mt FOB, have remained at the same levels as the previous week.