Over the past two weeks, Turkish domestic and export prices for hollow sections have continued to be remain unchanged. Although both domestic and export demand remains weak, the main reason for the price stability is that there is no room for additional decreases since hot rolled coil (HRC) prices are stable and the scrap market is improving.
Consequently, most pipe producers have quoted stable domestic hollow section prices at around $630-650/mt ex-works over the past week.
“We have maintained the same pricing. Demand is minimal and there is no significant factor that will cause a rise, so there is no expectation of a rebound in the market. The end of the summer may cause some movement, but, because of Turkey's economic difficulties and expenditures, this movement may only last temporarily,” a market source told SteelOrbis.
Since the situation has not altered in the export market, pipe makers have kept their prices stable week on week. Accordingly, most export offers for hollow sections have been reported at around $640-650/mt FOB. However, according to reports, larger pipe producers are offering at around $620/mt FOB.