Turkish hollow sections producers the same as last week have refrained from lowering prices, though to stimulate business activities they have agreed to give discounts. Meanwhile, weaker hot rolled coil (HRC) offers, poor demand, and economic and financial factors remain an issue and have exerted downward pressure on the market.
“The fundamental cause of the weakness of the hollow section market is the economic and financial difficulties that our domestic market in Turkey is facing. No one is interested in starting projects or placing large-tonnage orders since people's purchasing power has dropped significantly and they are unable to even foresee the costs that will arise in the winter owing to escalating energy costs.” a pipe-maker told SteelOrbis.
Domestic and export hollow section pricing is still in line with last week’s levels. Turkey’s local workable hollow section prices are at around $700-750/mt ex-works, while feasible export prices are at $750-800/mt FOB.