Local Turkish hollow section (HS) prices have increased owing to positive sentiments in the scrap market along with price increases in the retail flats market, while traders claim that demand for pipes is currently more or less nonexistent in both local and international markets. Additionally, the latest price increases may not be sustained due to other unfavorable variables, like the global economic crisis, inflation and the lack of demand.
“Despite raising prices, there is no rise in demand. For a long time, there has not been much need for pipes. We now produce a limited number of pipes since everyone only purchases what they require, preventing further losses,” a trader told SteelOrbis
Currently, Turkey's local hollow section prices have risen by $5/mt to $730-800/mt ex-works. The most recent quote from one of the larger mills was at $730-760/mt ex-works, compared to some medium-sized producers' quotes at roughly $780-800/mt ex-works. Additionally, offer levels for exports have increased from $765-850/mt FOB in the previous week to $770-850/mt FOB today.
