Despite the gloomy outlook arising from the ongoing low demand and the declines in the scrap market, the majority of Turkish pipe producers have continued to keep their offers unchanged. While there have been some price moves in the hot rolled coil (HRC) segment, most pipe producers believe that the current state of the market cannot sustain price increases. As a result, neither increases nor decreases improve the existing scenario as purchasers are unwilling to make purchases or buy in small quantities, with the pipe market remaining stable as a result.
As of the end of the current week, workable domestic hollow section prices have remained stable week on week at $630-650/mt ex-works.
“There is little demand, a very erratic market and unpredictable prices. Perhaps there may be some recovery from this poor situation if demand picks up in September,” a market source told SteelOrbis
On the other hand, in the export market, most suppliers are offering at around $640-650/mt FOB, which is the same as in the previous week. Nonetheless, according to reports, larger pipe producers are offering at around $620-630/mt FOB.