Turkey has been affected by the global increase in energy prices, which has had a significant impact on HRC prices, eventually affecting pipe-makers’ pricing as well. Domestic pipe makers have raised their prices by $40/mt this week compared to the previous week, but throughout the last month sluggish demand, global inflation, and currency fluctuations have resulted in negative sentiments in the hollow section market. Owing to these adverse sentiments, many pipe-makers doubt that this growth will endure.
“The construction industry has already begun to slow, and it will continue to slow as the winter approaches. As a result, demand, which is now low, is expected to fall further in the coming days. Unless we solve the demand problem, I believe that the prices that have increased owing to energy prices will gradually fall in the upcoming weeks,” a pipe-maker told SteelOrbis
Currently, Turkey's local hollow section prices have risen by $40/mt to $700-740/mt ex-works. The most recent quote from one of the larger mills was quoted at $740/mt ex-works, compared to some medium-sized producers' quotes of roughly $700-720/mt ex-works. Additionally, offer levels for exports have increased from $700-750/mt FOB in the prior week to $700-780/mt FOB today.