This week, the price of hollow sections (HS) in Turkey increased by $20/mt thanks to the hot rolled coil (HRC) segment's ongoing optimistic mood, which was supported by the global positive trend and improved scrap prices. Unfortunately, since scrap prices are beginning to fall slightly and as demand remains weak, many pipe suppliers are aware that current prices will not remain firm, and so they are not hesitating to give discounts to existing purchasers.
“Although a reduction in scrap prices has been seen, it is crucial to watch how HRC evolves since that will determine the prices of pipe, but even so, because demand is weak, we provide discounts to serious purchasers.” a pipe-maker said to SteelOrbis.
Domestic HS prices have risen by $20/mt to $800-850/mt ex-works. In contrast to some of the medium-sized manufacturers' quotes of about $800-850/mt ex-works, the most recent price from one of the bigger mills was given at $820-830/mt ex-works. Additionally, the offer level for exports has increased from $800-830/mt FOB in the previous week to $780-830/mt FOB currently. However, due to weak demand, some mills are providing discounts and offering at around $790-810/mt FOB.