Turkish hollow section prices have declined further this week in both the domestic and export markets, reflecting the continued softening in the local HRC market, slower business activity and increasing price pressure from some major pipe producers. Lower quotations from larger suppliers have pushed small and medium-sized producers to reconsider their workable levels, leading to another downward adjustment in prices. However, according to market participants, buying interest remains relatively limited considering the extent of the latest price declines, while ongoing financial difficulties continue to affect purchasing activity.
In the domestic market, Turkish hollow section prices are currently heard at around $630-650/mt ex-works, compared to $660-670/mt ex-works last week. Major pipe producers are generally targeting the lower end of the current range, while small and medium-sized suppliers are mostly offering closer to the upper end.
In the export market, Turkish hollow section offers have decreased to around $620-640/mt FOB, from $650-670/mt FOB last week. Larger producers continue to adopt a more aggressive pricing approach and are mostly targeting the lower end of the range, while levels of around $610/mt FOB are also reported to be available in some cases depending on tonnage and payment terms. Small and medium-sized producers, meanwhile, are generally trying to maintain offers closer to $640/mt FOB, although lower quotations from major suppliers continue to put pressure on these levels.
