Considering the lack of a significant improvement in the Turkish market and mostly stable trends in the hot rolled coil (HRC) and scrap segments, the majority of Turkish pipe makers have decided to keep their offers stable after the holiday. However, according to market players, the outlook remains unchanged and is not showing signs of recovery, placing financial pressure on both buyers and sellers. As a result of slower trading activity, some medium-sized pipe producers are offering discounts to serious buyers placing orders for higher tonnages. Still, the majority of market participants believe that even these discounts are not helping significantly to activate the market.
“There has not been much change after the holiday. Demand remains poor in both the domestic and overseas markets. So, owing to the sluggish market conditions, we are nearly offering about the same price for both the export and local markets to serious customers and for higher tonnages,” a pipe maker told SteelOrbis.
Currently, in the local hollow section market, prices stand at $630-640/mt ex-works. However, due to poor demand, some medium-sized tube makers are likely to grant discounts of around $620/mt ex-works. According to reports, the most recent prices from larger mills have been in the range of $590/mt ex-works.
Similarly, export offer levels remain unchanged from last week, at $620-630/mt FOB.