Despite rising hot rolled coil and scrap prices, Turkish pipe producers have decided to reduce their offer prices over the last week in response to the continuing slackening of trade in both local and foreign markets. Furthermore, according to market participants, some of the main pipe producers are giving considerably lower prices, depressing sentiments in the market.
"Prices are down, but we do not expect them to fall further. We expect they will maintain these levels in the next weeks. However, big producers are offering much lower prices, which has a detrimental influence on the market, and buyers are demanding further reductions,” a pipe producer told SteelOrbis
Currently, domestic hollow section prices have decreased this week to $620-640/mt ex-works, down from $630-640/mt ex-works in the previous week. However, according to market sources, offers from larger pipe manufacturers are considerably lower, at approximately $570-580/mt ex-works.
On the export side, the situation remains slow, with the majority of official hollow section offers reported at $610-630/mt FOB, down from $630-650/mt FOB in the previous week.
