Turkish hollow section domestic and export prices have declined further this week reflecting difficulties in the local market brought on by slower business activity and weakening sentiment in the hot rolled coil (HRC) segment. Since market movements are not showing any signs of improvement for the coming weeks, most Turkish pipe makers have lowered their prices, although a few producers are still trying to keep offers above workable levels.
Currently, domestic hollow section prices have decreased this week to $680-710/mt ex-works, down from $700-730/mt ex-works in the previous week. However, as previously stated, several pipe producers are attempting to maintain the previous levels of $720-730/mt ex-works, which appear difficult to achieve in the current market.
“We have witnessed another fall, as expected. The reason is that demand is weak on both sides, even though we have our regular customers they only buy limited quantities since the market is heading down and additional reductions are expected,” a pipe maker told SteelOrbis.
On the export side, similar declines have been observed, with a majority of pipe producers quoting offer levels at $690-700/mt FOB, down from $700-720/mt FOB last week.