During the past two weeks, hollow section prices in Turkey's domestic and export markets have continued to remain steady. The fundamental reason for this stability is that hot rolled coil (HRC) prices are attempting to rise since the export market has gotten better and the scrap market is improving. However, the general prognosis for pipe producers has remained unfavorable, and many believe that if the situation does not improve, there will be more price reductions.
“Nothing has changed, demand in the pipe segment is sluggish, mills are attempting to maintain HRC prices higher but demand in the domestic market, combined with financial difficulties, will not sustain this stability,” a pipe-maker told SteelOrbis.
Currently, prices in the local hollow section market are $750-800/mt ex-works, which is consistent with the previous week's levels. While, according to market players, the most recent prices from the bigger mills have remained as the previous week at $700-730/mt ex-works.
In a comparable way, the offer level for exports stays unchanged from last week at $750-800/mt FOB.