Amid softer hot rolled coil (HRC) market prices and the ongoing slowing of both local and export trade, Turkish pipe makers have had no alternative but to keep reducing their offer prices. In the meantime, there are divergent views in the market regarding the days ahead. While some suppliers anticipate that pipe trade will remain difficult throughout the year, with price declines continuing as the economy and demand remain a problem, others believe the market will remain negative until the end of the summer, after which it may improve with some sales activity.
Over the past week, domestic workable hollow section prices have declined by $10/mt to $650-670/mt ex-work. A similar trend has been observed in the export market, with pipe producers quoting offers this week at $650-680/mt FOB, down from $670-700/mt FOB.
However, some medium-sized suppliers are attempting to offer at higher than feasible prices, at $700/mt FOB, which is difficult to achieve in the present market situation.