This week, another increase has been observed in the Turkish pipe market mainly due to recent price increases in the domestic hot rolled coil (HRC) and scrap segments. As a result, local pipe makers have had no choice but to raise local and export prices compared to last week. Despite the price hikes, market participants indicate that poor demand continues to impact and limit business activity, which has become more sluggish with the approach of the holiday at the end of Ramadan.
“The outlook is poor in the domestic market, especially with the approaching Ramadan vacation, and, although we raised prices in response to ongoing rises, demand is not keeping up with the market growth,” a pipe producer told SteelOrbis.
As a result, this week prices in the local hollow section market in Turkey are at $650-670/mt ex-works, up around $10/mt week on week.
Likewise, export prices have also increased, to $640-660/mt FOB, while offers in the previous week were at $630-650/mt FOB.
