Despite deteriorating market conditions, this week's hollow section prices in the local Turkish market have remained stable. Turkish economic woes and worldwide inflation have had an adverse impact on overall commercial activity in Turkey. As a result of these circumstances, on the one hand traders are eager to give discounts, and, on the other hand, many traders are waiting to see what happens because negative scenarios such as dropping prices, rising expenses, and seasonal inactivity are causing both pipe sellers and purchasers to reconsider their actions and to sensibly spend or invest their money rather than take risks.
Prices in the local hollow section market are currently $700-750/mt ex-works, which is in line with the levels last week. Hollow section prices in the export market are at $740-790/mt FOB, unchanged from last Friday.