Despite the grim outlook and softening pricing in the hot rolled coil (HRC) and scrap markets, the majority of Turkish pipe producers have kept their domestic and export prices stable over the past week. However, in response to the downward trend of flat steel prices and sluggish trade in both the local and export markets, several pipe makers have decided to offer discounts to serious purchasers.
Over the past week, prices in the local hollow section market have remained at $650-670/mt ex-works. However, some pipe manufacturers have provided $10/mt reductions, corresponding to roughly $640/mt ex-works. As the year draws to a close and prices are soft, market participants say that consumers are still not particularly interested in discounted prices since they anticipate additional price reductions and seek to complete the year profitably.
In the meanwhile, offers from larger mills are reported at roughly $620-630/mt ex-works.
On the other hand, throughout the past week, hollow prices for exports have remained stable at around $640-660/mt FOB, with not much interest from abroad.