The Turkish hollow section market has softened this week, with prices declining following the recent correction seen in domestic hot rolled coil (HRC) prices. Demand has remained weak in both the local and export markets, while ongoing financing difficulties and cautious sentiment have continued to weigh on trading activity. Although pipe producers had previously managed to maintain relatively firm offer levels despite weak demand, the recent decline in HRC prices has reduced cost support and prompted a downward adjustment in hollow section quotations. However, buyers have largely remained on the sidelines, expecting additional decreases in the coming weeks, particularly as the summer slowdown approaches.
As a result, domestic hollow section prices in Turkey have declined to $670-690/mt ex-works, compared to $710-730/mt ex-works reported last week.
Meanwhile, export offers have also moved down to $670-680/mt FOB, compared to $700-725/mt FOB heard previously.
Nevertheless, market sources indicate that additional discounts of around $5-10/mt remain achievable for serious buyers and larger-volume transactions, reflecting the continued lack of significant buying activity in both the domestic and export markets.
