The Turkish local hollow section (HS) market has seen another drop in prices during the past week, owing to poor demand and another fall in prices of hot rolled coils (HRC). In addition, due to the poor economic conditions in Turkey, worldwide inflation and slower export demand, the market outlook is bleak, and pipe prices have been unable to settle in a consistent range in the past few weeks. As a result, most hollow section suppliers have agreed to provide significantly greater discounts to serious customers in order to boost business.
This week, Turkey’s local hollow section prices have decreased by $5-10/mt to $700-750/mt ex-works, while export offer price level have dropped to $740-790/mt FOB, from $755-820/mt FOB in the previous week.