Despite ongoing sluggish business activity and financial problems, Turkish pipe producers have kept their offer prices stable mainly due to the ongoing upward trend in the hot rolled coil (HRC) market, though their pipe prices may drop in the coming days due to the decreases seen in the scrap market. As a result, most market participants are waiting for market prices to move before taking action.
Currently, domestic hollow section prices are quoted at $650-670/mt ex-works, unchanged week on week. However, a few pipe makers are attempting to entice consumers by offering lower levels at around $640/mt ex-works.
“The market is now quite confused and prices vary, making it difficult to forecast the future weeks. Also, demand in both segments is slow, so there is not much chance for any upward movement in the pipe market,” a pipe maker told SteelOrbis.
Similar stability has been observed in the export market, with the majority of Turkish pipe companies offering the same prices as last week. According to market players, this week's offers have settled at around $640-660/mt FOB, remaining stable.
